In addition to Cheshire’s board position, he will continue in his role as CEO of Syndicate’s wholly owned wealth management division, Ashcourt Rowan.
Prior to joining Ashcourt Rowan in November 2009 as CEO, Cheshire was previously director of UK Private Wealth Management at Lloyds TSB.
Under Mark Cheshire’s leadership, Ashcourt Rowan has experienced significant growth during 2010, revenues for the six months to 30 September 2010 having increased 28% when compared to the previous year.
Syndicate non-executive chairman Peter Dew said Cheshire has the full backing of the board and the major shareholders to drive through his program for delivering significant growth within the business in terms of both revenue and profitability improvement.
Cheshire said during the last 18 months Syndicate’s balance sheet has been strengthened substantially with additional capital raised and the group’s debt and deferred consideration liabilities removed.
"We likewise have created a significant platform with a national footprint of offices through which to take full advantage of the major changes beginning to take place in the wealth management sector as a result of the proposals within the retail distribution review. We intend to leverage fully off these changes and the assets held within the group," Cheshire said.
