IFG Group, the parent company of James Hay Partnership and Saunderson House, has named John Cotter as its interim chief executive as its latest results show a dip in operating profits.
Cotter, the group finance director, will take over from outgoing Mark Bourke on 7 April as the CEO recruitment process continues. The group's preliminary results state the outfit achieved an operating profit of £4.6m compared to £6.2m in 2012. However, revenue was up by 4.6% to £79.6m compared to £76.2m the previous year. Adjusted operating profit of £9.6m was in line with 2012, it said. Profit after tax from continuing operations increased by 49% to £3.6m and a final dividend of 3.19c per share, is proposed, maintaining dividend pay-out. The group sold off its IFA arm to Ascot Lloyd...
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