Sovereign-backed Skerritts appoints Paul Feeney as CEO

Sovereign Capital Partners, the UK private equity Buy & Build specialist, is delighted to welcome Paul Feeney, the former CEO of Quilter, as the new CEO of Skerritts Group, the fast-growing, tech-enabled wealth management group. Paul will be taking up the position from 2 May, subject to regulatory approval.

Paul is a highly experienced business leader, having held a number of senior positions in the wealth and asset management sector. For a decade he was the CEO of Quilter, the FTSE 250 wealth manager, and prior to that was Group Managing Director of Gartmore Investment Management and Chief Executive of NatWest Private Bank.

Since Sovereign invested in Skerritts in 2021, we have completed nine acquisitions to date, creating one of the leading wealth management brands in the South of England. Headquartered in Hove, East Sussex, the business was founded in 1990 by Richard Skerritt, who will be remaining on the Board as Non-Executive Director.

Andrew Fisher, Non-Executive Chairman, Skerritts, said: "Paul is an outstanding CEO and business leader. Having worked with Paul previously, I am very excited that he has agreed to join Skerritts to take it to the next stage in its development. Richard has built a great platform and now with Paul at the helm we have the opportunity to create a leading business in the wealth management sector."

Paul Feeney, incoming Chief Executive Officer, said: "I am delighted to have the opportunity to work with Andrew again and also now Richard, two of the most successful entrepreneurs in the wealth management market. Skerritts has all the right building blocks and, importantly, the right values to become one of the leading wealth management businesses in this country, and with the continued backing of Sovereign Capital, that's exactly what we are going to create."

Richard Skerritt, Founder, Skerritts, said: "I am immensely proud of Skerritts and what we have created over the last 30 years. The business provides clients with a holistic wealth management offering, and following Sovereign’s investment in early 2021, we have further invested in our capabilities. The technology roadmap for the next 18 months is very exciting. Paul's significant sector experience will allow the Group to reach its full potential and I look forward to supporting the business and Paul as a continuing board member and Non-Executive Director.

Notes to editors:

About Sovereign Capital Partners

Sovereign is a specialist investor that focuses on partnering talented management teams and high-quality businesses, in specific service-based sectors, to deliver accelerated growth both in the UK and internationally. We do this through our proven strategy of Buy & Build. Whether through organic growth, acquisition or a combination of both, we provide strategic investment and look for innovative ways to create not just value, but businesses we’re truly proud of. Sovereign Capital Partners LLP is authorised and regulated by the FCA.

About Skerritts

We are award-winning Chartered Financial Planners and Wealth Managers, focused on providing enduring financial advice to support our clients' financial future goals, aspirations, and ambitions. We have been providing advice to individuals, businesses, charities and trusts throughout the UK for over 30 years and are one of a small number of firms to hold Chartered Financial Planning and Discretionary Investment Manager status. Find out more: www.skerritts.co.uk