Kingswood ends transformative year with senior promotions and appointments 

• Leigh Philpot assumes the role of Head of Wealth, Rupert Thompson promoted to Managing Director and Chief Investment Officer and David Winckler becomes Associate Director
• Paul Surguy joins Kingswood from Kleinwort Hambros to lead the investment management business
• Further senior appointments to the management team will be completed in the New Year as the Group continues its transformative journey

Kingswood Holdings Limited (AIM: KWG), the ambitious integrated international wealth management company, today announces the promotions of Leigh Philpot to Head of Wealth, Rupert Thompson to Managing Director and Chief Investment Officer and David Winckler to Associate Director.

Leigh joined Kingswood in September 2019 and now assumes the role of Head of Wealth encompassing responsibility for the firm’s retail wealth planning and investment management businesses with a specific focus on proposition development and responsibility for wealth planners, investment managers, client support and para-planning. Leigh will also have overall responsibility for Kingswood’s business development and sales messaging.

In January 2020, Paul Surguy will join Leigh’s team to lead the investment management business. Paul joins from Kleinwort Hambros where he ran the discretionary investment team for UK affluent clients and prior to that he was Head of Funds Research at Sanlam.

Kingswood is also pleased to announce that Rupert Thompson has been promoted to Managing Director and Chief Investment Officer for the group. Rupert has been integral in formalising Kingswood’s core investment process and will continue to enhance the Group’s investment offering. Kingswood is also delighted to promote David Winckler to Associate Director where he will continue to support Rupert in developing the firm’s investment strategy.

Patrick Goulding, Group CFO and CEO of Kingswood’s operating platforms, commented: “It has been an incredibly busy and successful year for Kingswood and these promotions are a testament to the progress made. We’ve developed a strong competitive advantage as a result of our integrated offering and the growth capital secured from funds managed by Pollen Street Capital has provided the firm with the ability to capitalise on the consolidation opportunities available in the global wealth management market. We will continue through 2020 to make additional strategic hires to support the growth and build-out of the Group and further enhance the strong and experienced management team in the UK and US.”

So far this year Kingswood has expanded through global consolidation having seen its largest shareholder, KPI (Nominees) Limited, inject new capital to bring its total investment to £15m. Kingswood now presents a robust,  and efficient operation and benefits from up to £80m of permanent growth capital in the form of irredeemable convertible preference shares from funds advised by Pollen Street Capital, a global investor with a strong track record in financial services. Kingswood is entering the next phase of development: becoming a global, scalable wealth management infrastructure, not just a bolt-on acquisition driven growth model.
  
Through Kingswood, investors can gain exposure to the financial advice market while being supported by an acquisitive consolidation play in fragmented UK and US markets. Increased ownership of the integrated advice and investment process allows the Group to capture an increased share of revenues generated across the value chain while simultaneously creating future cross-referral opportunities. In a recent research note detailing Kingswood’s growth ambitions, finnCap demonstrated the upside growth potential that can be delivered in the near to medium term. They model a growing EBITDA over the next few years on conservative assumptions which should lead to an enhanced market multiple valuation and share price.

Gary Wilder, Group CEO at Kingswood, said: “This has been a year of positive and highly effective transformation. We are incredibly excited for what 2020 will bring. We believe that Kingswood presents investors with a rare opportunity to achieve outsized returns thanks to an institutional grade financial services management team that is positioned to tap into underlying sector tailwinds in the retail wealth management market. We aim to offer best in class, vertically integrated wealth planning and investment management services backed by leading technology, a rigorous risk and compliance environment and innovative product offerings.”