Paul Bradshaw, one the founders of Skandia, and the chairman of Nucleus and River & Mercantile, has passed away.
An actuary by training, he was heavily involved in the product design and distribution aspects of the financial industry over a career that spanned more than four decades.
Bradshaw (pictured), who passed away yesterday, was a founder of Skandia Life Assurance Company in the UK, and was chairman and managing director of that business before moving on to various roles with J Rothschild International Assurance (now St James's Place Wealth Management), including CEO of the international business.
His executive career completed as CEO of the insurance and asset management division at Abbey (now Santander).
Bradshaw has also had extensive non-executive experience, including at Principal Investments, Nucleus Financial Group, Sanlam and River & Mercantile, as well as firms outside the asset management sector.
David Ferguson, CEO at Nucleus, said: "Right from our very beginning, Paul has been a massive inspiration and a huge part of the Nucleus journey. A man of enormous intellect, great passion and with an insatiable hunger for what comes next.
"Nucleus, the other companies he was involved in and the wider industry are lessened by his passing but we will work harder than ever to ensure his legacy here is a positive one."
Lawrence Gosling, editorial director of Professional Adviser, said: "I had the pleasure of knowing Paul for nearly 30 years and he was one of the brightest and most forward-thinking people in the industry.
"Unusually for an actuary, he was also a great communicator. He was one of the people who built Skandia into the powerhouse of a business it was in the 1980s and 1990s and laid the foundations for what today is Old Mutual Wealth.
"There are lots of advisers and clients who can probably thank Paul for creating the products that have created a financially secure retirement.
"He was also a great advocate of how technology could be used to improve outcomes for consumers and was a passionate believer in the use of plain English by the industry. He will be much missed by the industry and it is very sad news for his wife, children and grandchildren."
'Agent of change'Brendan Llewellyn, owner of Marketing Edge and a director of Adviser Home, also paid tribute to Bradshaw saying: "Paul was a genuine industry leader - an actuary with an acute commercial and strategic mind.
"He was equally at home with the fine technical details and the very biggest picture - a picture he changed over a remarkable 46 years in financial services. In a managerial world, he stood out as one of the very few agents of change, a genuine entrepreneur who will be deeply missed by all those who knew him."
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