The Openwork Partnership’s current chief executive officer Philip Howell will become the organisation’s executive chairman.
He will succeed current chairman Andy Smart, who will be retiring after several years of service as chair and independent NED of the Openwork Partnership.
Richard Houghton, the current chief financial officer will succeed Howell as chief executive officer.
The business is now commencing the search for a new CFO to replace Richard.
The appointments were announced at the Openwork Partnership’s annual national conference today (10 June) in London.
They will take effect from 1 January 2023 and are subject to regulatory approvals.
Howell joined the partnership as chief executive in March 2020.
He said: “This reflects the intention of the board and shareholder council for an orderly transition and continuity from the time of my arrival.
“I became chief executive in 2020, to help set the future direction of the partnership, while also ensuring the right senior leadership team is in place to deliver our ambitions.
“By the end of this year, the time will be right to make that move.”
“Richard and I have worked closely alongside each other in creating and implementing the strategy as well as navigating the additional challenges of the pandemic.
“I am delighted he has agreed to succeed me as CEO and that we will continue our partnership.
“He is a highly experienced leader and will be a huge asset in taking us forward.”
Houghton joined the partnership as chief financial officer at the same time back in March 2020.
He said: “I am excited and privileged to take up the role as CEO next year. It’s a pleasure working with Philip and with the partnership more broadly.
“We have achieved a lot together since 2020 and I will have a great combination of long serving and new talent in the leadership team around me.”
The Openwork Partnership laid out ambitious plans for growth earlier this year.
After recruiting around 100 advisers in the past year, Mortgage Strategy sister title Money Marketing understands that 38 advisers recently joined Openwork from other networks.
