London-headquartered Tilney Bestinvest has hired Stuart Layzell within its senior management team.

Tilney Bestinvest, the UK investment and financial planning group, has appointed Stuart Layzell in its newly-created role of chief financial officer.

The firm created the role to fit with the increased scale of the business. Tilney Bestinvest's finance function has until now reported to the chief operating officer alongside operations, IT and risk departments.

Layzell brings varied experience across senior management, M&A and private equity roles in both the UK and US. In 2011, he helped launch the Business Growth Fund, a £2.5 billion ($3.8 billion) fund backed by five UK banks, before holding CFO positions at two private-equity backed technology companies. He has previously spent seven years with LDC, the private equity arm of Lloyds Banking Group focused on mid-market deals.

“We are delighted to welcome Stuart to the senior management team. He brings considerable experience both of high growth companies and of mergers & acquisitions – expertise which will prove invaluable to Tilney Bestinvest as we progress with our growth strategy,” said Tilney Bestinvest's chief executive, Peter Hall. 

“The business is seeing strong organic growth underpinned by award winning services and we continue to explore opportunities for potential acquisitions where we think the fit with the existing business is strong and will benefit our clients.”

Layzell joins ahead of the firm's launch of Saga Investment Services, its new joint venture with Saga. Last week, the investment manager welcomed the Financial Services Authority's former chief executive John Tiner to its board.

Last year, Tilney Bestinvest, which is backed by private equity house Permira, generated revenues of £67.6 million and profits on an EBITDA basis of £17.7 million.