Stonebridge Group’s managing director, Richard Adams, is to step back from his executive role at the end of July this year.
Rob Clifford will become the firm’s chief executive.
Adams founded Stonebridge as an independent brokerage back in 1988. He will still remain involved in the business in a non-executive capacity, providing advice and support to the management team and board.
Clifford joined the Stonebridge Board in 2015 and moved to his current executive role a year ago. He will lead the Stonebridge management team and be accountable for the firm’s strategy from this summer.
Adams said: “Since moving to a network model back in 2010, Stonebridge Group has gone from strength to strength, and – given the quality we now have right across the management team – this feels like the right time to move into a more consultative role and allow Rob and the team to drive things forward.
“I have been very fortunate to work with some amazing people over the last three decades and it is down to them that the business is where it is right now and that I’m able to make this personal decision at a time which is right for me and the business.
“I will continue to be involved in an advisory capacity and accessible to the team and key partners. This business has truly been my ‘baby’ for over 30 years and I am 100% confident that all our stakeholders will continue to see this Group deliver everything they want from it, and that they will be part of our continued success for many, many years to come.”
Clifford added: “As he was the driving force behind Stonebridge for the past three decades, I was obviously sorry to hear from Richard that he wanted to step back, but we are all pleased he will continue to play a significant part in our success as an adviser to me and the board, where we’ll be able to draw upon the wealth of experience and insight he has.
“Stonebridge Group continues to develop and innovate and has been one of, if not the, major success stories of the mortgage and protection market particularly in the last 10 years. I am very pleased to now lead the business as its CEO, four years after I joined its board as a director, given we have significant ambitions and projects to launch which will benefit our advisers and member firms.
“We have a fantastic senior management team at Stonebridge, who have been in post for many years and together I know we can build on the incredible work that the team have achieved to date.”