Allfunds Bank's UK director Holly Mackay is leaving the firm to consider new opportunities elsewhere.
Although no decision has yet been made as to her future plans, Mackay says she is in discussions with other companies and “not ruling anything out” as her skill set is “clearly in demand”.
I joined Allfunds to take the European platform and launch it in the UK, and now that is what we’ve done I’ve decided to move on,” says Mackay.
“It’s been an interesting year to be around the wrap market and it is such a strategic concern for many [financial services] groups, it is something a lot of financial services companies are looking to set up.”
”Having now achieved all of our initial targets and goals for establishment of the UK business, I wish the team at Allfunds well as they continue to expand into this exciting market.”
Mackay was a key player in the creation of the Abbey Wrap, before moving to the separate AllFunds division a year ago to adapt the European mutual funds platform for UK launch.
Allfunds officials say a director-level appointment will be announced in due course.
One of the firms which has been worked closely with Allfunds in the wrap space is Nucleus Financial, the IFA -led firm creating its own wrap proposition with the support of Allfunds and Bravura.
David Ferguson, chief executive of Nucleus, says it is disappointed to see her go, but has been given assurances the firm's own plans will not be affected.
"We have been reassured of Allfunds Bank's commitment to the UK market and therefore as far as our implementation plan is concerned it is business as usual. I'm disappointed on a personal level not to be working with Holly and very much appreciate her role in bringing AllFunds into the Nucleus proposition."
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Julie Henderson on 020 7968 4571 or email [email protected].IFAonline
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