"Now the right time to hand the baton over to a successor to drive the next phase of Openwork's strategy and development as an independent, adviser-owned business."
Mark Duckworth joined Openwork 10 years ago as commercial development director and led the network's transition to independence from Zurich Insurance Group in 2018, delivering pre-tax profits of £22.6 million.
Philip Howell joins from wealth manager, Rathbone Brothers, where he was chief executive. Prior to that, he served as CEO of Williams de Broe Wealth Management and CEO of Fortis Private Banking. Earlier in his career, Philip enjoyed a 24-year international banking career with the Barclays group.
Christopher Rodrigues, group chairman at Openwork, said: “On behalf of the board and shareholders, I would like to place on record our gratitude to Mark for all he has done to develop the Openwork franchise; during his tenure, the Group’s financial performance has been transformed. With Openwork poised to take advantage of its achievements since its independence, we are very fortunate to have attracted someone of Philip’s experience to lead us into our next chapter and I welcome him to what we intend to be the start of a long-term relationship with the Group.”
Mark Duckworth commented: “I am incredibly proud of what we have achieved together over the past 10 years for our clients, our business and our culture. I feel that it is now the right time to hand the baton over to a successor to drive the next phase of Openwork's strategy and development as an independent, adviser-owned business. I would like to thank Openwork’s advisers, staff and the board for all of their support over the past 10 years and wish everyone continued success for the future.”
Philip Howell added: “The market demand for financial advice continues to grow unabated. As a long-established, now adviser-owned business and ranking amongst the top three financial services networks in the UK, Openwork is already very well positioned. I very much look forward to working with our partners and management team in realising the full potential of the business.”
