Former Sesame Bankhall chief Stephen Gazard has joined adviser network Intrinsic as group managing director.
Gazard (pictured) will join the business later this year, after helping Sesame Bankhall (SBG) transition to a new management structure.
He will work alongside Intrinsic CEO Andy Thompson on the distribution strategy for the group as well as leading the mortgage division of the network.
Sesame announced on 28 February Gazard was to exit the business and be replaced as managing director by former sales director Mark Graves and former compliance & risk director Julie Sadler, following a reshuffle at executive level.
Graves will be in charge of overseeing Sesame and mortgage club PMS, while Sadler will run the adviser support services business.
Intrinsic, which is part of Old Mutual Wealth, meanwhile announced it was to buy rival network Caerus in a deal believed to be worth about £30m, and which could see more than 300 advisers join Intrinsic.
The position of group managing director was newly created after Intrinsic announced in 2016 it would create three new business channels, each with its own managing director with full profit and loss responsibility.
As such, Nigel Speirs will continue to lead Intrinsic's appointed representative and national advice firm Old Mutual Wealth Private Client Advisers, while Stephen Fryett will be charged with overseeing the wealth network for investment and pension advisers.
Thompson said: "I'm delighted that, in Stephen Gazard, Intrinsic has been able to attract a pioneer and leader of the financial planning industry to join our business. As a financial adviser who has since gone on to hold numerous senior management positions within distribution, he holds both the practical experience and leadership credentials to help Intrinsic continue to be the network of choice for professional financial advisers"
Gazard added: "My decision to leave SBG after four years as managing director was not one taken lightly. However, after speaking to Andy over a number of months and understanding Intrinsic's plans for the future, it represents a fantastic opportunity to be part of an organisation that truly sees all aspects of financial advice as core to its long-term strategy."
In 2010 he was appointed managing director of the Lighthouse network, following the merger of Sumus and Lighthouse. He oversaw all aspects of the network's key activities, supporting the integration of the two firms, before leaving for SBG in February 2013.
During his time with SBG, Gazard also worked closely with Intrinsic on the integration of more than 200 financial planners who joined the business after it was selected as the preferred partner for pensions and investment advisers following SBG's decision to focus on its mortgage, protection and directly authorised services.
Third day of election campaign
The chairman fears investors could think the regulator endorses passives
Calls on advisers to use stats to promote protection
Labelled a ‘stealth tax’