Following yesterday’s report that Stephen Mohan is to leave Cofunds, this publication can confirm that Mohan will move to Allfunds Bank.

He will spearhead the firm’s growth plans in the UK and Ireland, and lead the London office that manages £10 billion ($15.4 billion) of assets across 20 UK clients.

Allfunds Bank, a business to business fund platform with more than £80 billion of assets under administration, said it chose someone with platform expertise to take charge of its growth strategy.

“The recruitment of Stephen reflects our commitment to the UK market and the reinforcement of the platform with one of the most relevant managers in the UK platform space. His experience will boost our operations in the UK and will improve our service delivery as we move into our next phase of growth,” said chief executive Juan Alcaraz.

Mohan is well positioned to support the inevitable post-RDR drive for efficiency, the firm continued, given his expertise.

He will report to chief commercial officer Gianluca Renzini and will start in October.