AJ Bell has appointed Ryan Hughes as managing director of AJ Bell Investments, while Stephen Westgate joins the business as group corporate development director. Both Ryan and Stephen will report to CEO Michael Summersgill.
Having been made interim managing director in late 2023, Ryan has now been permanently appointed to the position and will join AJ Bell’s Executive Committee with immediate effect. As with all FCA Senior Management Function roles, the appointment is subject to regulatory approval.
AJ Bell Investments is growing rapidly, with Assets Under Management hitting £6.3bn at the end of June 2024, up 47% compared to a year earlier. AJ Bell Investments manages the business’ investment solutions, including its award-winning multi-asset fund range and Managed Portfolio Service.
Ryan joined AJ Bell in 2016 and has played a leading role in the development and growth of AJ Bell’s investment proposition.
Stephen’s previous role was at Deutsche Numis where he was managing director, head of financial institutions. The newly created role of group corporate development director at AJ Bell will see Stephen work closely with Michael Summersgill and members of the Executive Committee to drive new strategic initiatives with the focus on continuing the company’s organic growth trajectory.
Prior to joining Numis in 2017 Stephen was head of group strategy and treasury at Man Group and has previously held roles at Deutsche Bank and Credit Suisse.
AJ Bell CEO, Michael Summersgill, says:
“Since listing in 2018 AJ Bell has grown rapidly to become a business serving more than half a million platform customers, with assets under administration of £83.7bn. The remarkable growth of the business illustrates the success of our model, serving both the advised and D2C markets.
“Ryan and Stephen’s appointments add further depth to our leadership team, bringing new perspectives and thinking to help develop our strategy and identify further organic growth opportunities for the business.”
AJ Bell Investments managing director, Ryan Hughes, says:
“I’m honoured to be given the opportunity to lead the investment business at AJ Bell. We are growing rapidly, with AUM hitting £6.3bn at the end of June, up 47% in the last year alone. Our focus is on delivering strong investment performance via low-cost investment solutions and we are seeing particularly strong demand for MPS partnership arrangements with financial adviser firms.”
AJ Bell group corporate development director, Stephen Westgate, says:
“AJ Bell has delivered exceptional organic growth based on a sound strategy and commitment to making investing easy and low-cost for customers. I’m delighted to be joining the business and working with Michael and the rest of the AJ Bell team, with so many opportunities for the business to continue to develop its growth strategy.”