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PIMFA welcomes Investec’s Ciaran Whelan and Openwork’s Mike Morrow to Board

PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, is delighted to announce the addition of Ciaran Whelan and Mike Morrow to its Board with effect from 1 February 2021.

Both new directors bring substantial experience of the wealth management and advice sectors, which will help inform the direction and strategy undertaken by PIMFA as it continues its efforts to provide Professional Advice for All that want it and An Industry Fit for the Future challenges and opportunities to come.

Ciaran Whelan is managing director of Investec plc and CEO of Investec Wealth and Investment (UK). He has held various senior positions globally within the Investec group over the past 30 years. Ciaran sits on the Investec Board as an Executive Director. Before being appointed to his current roles in April 2020, Ciaran was Group Chief Operating Officer, and prior to that he was Group Director of Risk and Global Head of Private Banking.  Between 2013 and 2015 Ciaran was CEO of Investec Bank Australia Ltd and prior to that, he was CEO of Investec Employee Benefits Limited.

Mike Morrow is Chief Commercial Officer at Openwork. A highly experienced leader, he has held a variety of senior level wealth management roles at AXA, HSBC and Ascentric (formerly part of the Royal London Group) before joining Openwork as Wealth Director in June 2015. In his current role, he provides a focal point for Openwork’s proposition development and contractual relationships with adviser firms and third parties as well as leading on the development of the Wealth Platform. Mike is a member of the Openwork Investment Committee, the Executive, and a number of Openwork Boards (Openwork Holdings Limited, 2Plan and Openwork Wealth Services Ltd)

Lord Deben, Chairman of PIMFA, commented: “I’m delighted to welcome both Ciaran and Mike to PIMFA’s Board of Directors and look forward to working with them.

“I have no doubt that their considerable experience and insights will help take PIMFA forward in a way that benefits our members and the profession overall.

“There were already many challenges and opportunities facing the wealth management and advice industry before the COVID-19 pandemic took hold. Many of those challenges and opportunities remain, and some have been amplified by the pandemic. Ciaran and Mike’s experience will be invaluable in helping navigate a path that creates an industry that is Fit for the Future and benefits the financial and mental wellbeing of an ever-widening pool of consumers through the provision of professional advice for all.”

Ciaran Whelan, Managing Director of Investec plc and CEO of Investec Wealth and Investment (UK), commented: “I am delighted to be joining the PIMFA board at such a pivotal time for the advice profession. The wealth management and financial advice are vital sectors of the UK economy. This is a period of great change, not only in our industry but in society as a whole. Advances that many had thought would be some years away are taking place far more rapidly as a result of the COVID-19 pandemic, particularly when it comes to digitization within the industry.

“The transfer of wealth through the generations, the growth of ESG investing, how the industry is regulated and how we provide advice to a wider group of investors, are among just some of the issues that we need to tackle. I look forward to working, alongside my colleagues on the PIMFA board, towards finding some of the solutions to these, and many other challenges.”

Mike Morrow, Wealth and Platform Director at Openwork, commented: “I feel honoured and privileged to be joining the Board of PIMFA at this time. The Wealth Management industry generally, and the advice profession specifically, needs to exert greater influence over how the market should develop at this critical juncture, harnessing the role of traditional advice and digital opportunity. PIMFA is the trade body best suited to creating that positive positioning through wide member engagement and consensus.”

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