Hornbuckle sells 60% stake to private investors

clock

Self-invested pensions provider Hornbuckle Mitchell has sold a 60.34% controlling stake in the business to two new private investors.

Multiple small dormant shareholders will leave the ownership group and all executive shareholders will continue to retain their full holdings. The transaction has received formal Financial Conduct Authority (FCA) approval but is subject to standard closure conditions between the parties which will be completed shortly. As a result of the deal, Richard Wohanka, the new single largest shareholder, will become non-executive chairman, and Phil Smith will become chief executive officer. Current managing director David White (pictured) will continue as both a board member and senior exe...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

British Steel a stark reminder of obligations around client files

British Steel a stark reminder of obligations around client files

Lawyer Philippa Hann reflects on her work around the pensions case

Hope Coumbe
clock 27 March 2024 • 2 min read
SSAS and the general levy: A victory for common sense

SSAS and the general levy: A victory for common sense

The value of SSASs after general levy consultation outcome

Caitlin Southall
clock 26 March 2024 • 5 min read
Pension dashboard operators join forces to push project forward

Pension dashboard operators join forces to push project forward

Coalition aims to bring 'dashboards to consumers as early as possible'

Jasmine Urquhart
clock 25 March 2024 • 2 min read