Syndicate Asset Management has promoted Mark Cheshire to interim group CEO with immediate effect.
Cheshire was appointed to the board as an executive director responsible for group sales and business development in November.
"Mark has played a pivotal role in streamlining Ashcourt Rowan's operations and driving significant growth within that business division in terms of enhanced revenues, profitability and funds under management," says Syndicate non executive chairman Peter Dew.
"We believe his focus on revenues and efficient operations will allow the Group to move rapidly forward in the next phase of its development - our focus being on significant growth in terms of revenue and profitability."
The move follows a statement earlier today from the Ashcourt Rowan owner announcing the resignation of group CEO Jonathan Freeman.
Freeman was appointed interim joint CEO in March 2009 and his resignation follows the completion of the group's restructure.
In January of this year, Syndicate Asset Management completed the merger of its wealth management subsidiaries to form Ashcourt Rowan. The new company was created through the consolidation of Ashcourt Asset Management, Ashcourt Financial Planning and Rowan and Company Capital Management.
This September, Ashcourt Rowan Financial Planning agreed to acquire the IFA business and assets of Co-operative Bank Independent Financial Advisers.
Following the Ashcourt Rowan merger within Syndicate, Ashcourt's revenues increased 28% for the half year up to 30 September.
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