Global wealth management platform FNZ has appointed Stephen Welch as executive group chair and interim chief executive officer following the departure of Blythe Masters.
Masters, who took over as CEO in August 2024 from FNZ founder Adrian Durham, will continue to support the business in an advisory capacity for six months to help ensure an orderly leadership transition.
FNZ said Welch’s appointment reflects the board’s commitment to accelerating the execution of its strategic transformation programme, improving client delivery and supporting the group’s progress towards long-term profitable growth.
The board has begun a process to identify a permanent group chief executive. During the transition period, Welch will serve as executive group chair on an interim basis alongside his role as group chair.
The company said its strategy, transformation programme and client commitments remain unchanged.
FNZ will continue to focus on its core wealth management platform, improving the quality and consistency of client delivery and transforming its operating model to drive efficiency and sustainable, profitable growth.
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The board thanked Masters for her contribution over the past two years, citing progress in executing the group’s transformation programme, strengthening its financial position, advancing key regulatory priorities and simplifying the business through the divestment of non-core assets.
During her tenure, assets on FNZ’s platform grew to more than $2.5trn.
Welch said: “FNZ has a strong business, a clear strategy, market-leading technology and an exceptional client portfolio.
“I look forward to working closely with colleagues across the group as we continue to execute our transformation programme, improve delivery for clients and build on the significant progress already made.”
He also paid tribute to Masters’ leadership.
“On behalf of the board, I would also like to thank Blythe for her leadership and significant contribution to FNZ,” Welch said.
“FNZ enters this next chapter as a stronger and more focused organisation, and I am confident in the opportunities ahead for the business, our clients, our shareholders and our people.”