Martin will succeed current CEO, Keith Carby, who has left Openwork with immediate effect. Following his appointment, Martin will step down as current Chairman. The Board, with support of the Zurich Group, have asked Kate Avery, currently a Non-Executive Director of Openwork, to assume the role of Chairperson.
Martin’s appointment as CEO reflects his impressive track record in financial services and his proven background in developing successful businesses and advisor networks. Prior to joining Openwork, on whose board he has served since January 2006, Martin was CEO, Zurich Global Life Emerging Markets, and was CEO at Zurich International Life from 2004 until 2007. Before joining Zurich, Martin worked as Commercial Director at Sesame, the UK’s biggest IFA network with more than 7,500 advisers.
Martin’s immediate priority will be to ensure Openwork has the ability to thrive in an environment of evolving regulation. He believes this may necessitate the establishment of a two-tier distribution model which encompasses both multi-tie and whole-of-market advisor practices to maximise value for our customers. This will leverage the base that Openwork has and will lead to greater value generation for both advisors and shareholders in line with the Company’s strategy.
Martin said: “I am very excited about the prospect of building on the existing model and strongly believe that, with Zurich’s continued support for high quality distribution in the UK, Openwork is in an excellent position to meet the challenges of the changing regulatory environment ahead. Continuity is also of paramount importance, of course, and we will continue with our strategic aims to meet customers’ needs and create value for Openwork. I believe this is an exciting time to take on the role of CEO.”
