Heading off for new challenges, Juan Alcaraz will remain with the firm in an advisory role for 12 months to ensure a smooth changeover. Allfunds has hired the former HSBC Global Private Banking and Wealth CEO to take the helm.

Allfunds, a fund distribution platform, is continuing to make news in what has been a busy spring, announcing yesterday that group CEO and founder Juan Alcaraz (main picture) will be leaving. The former CEO of Global Private Banking and Wealth, Annabel Spring, is taking the helm.

Alcaraz founded the business in Spain 25 years ago, a period that has seen changes in the way funds are launched, bought and sold in Europe and further afield. The maturation of the internet has driven change, and more recently, the advent of blockchain technology.

As part of the change, Alcaraz, who is moving to new challenges, will hold an advisory role for the next 12 months to ensure a smooth transfer.

"Juan Alcaraz has led Allfunds with great dedication since its launch through its key milestones, including the IPO in 2021, and has worked ceaselessly to serve the business, our clients and shareholders,” David Bennett, chair of Allfunds, said in a statement. “We are grateful for his exceptional leadership and entrepreneurial spirit over the years and wish him all the best with his future pursuits.”

The firm is now a global platform for wealth businesses and their end clients. Today, it has more than €1.5 trillion ($1.71 trillion) in assets under administration, servicing 940 distributors in 66 countries. Alcaraz built Allfunds from a small business unit within Banco Santander to a large firm. (Santander sold its stake in 2017.)

New CEO
The firm’s board has appointed Annabel Spring as the incoming CEO of Allfunds. Spring was at HSBC for six years, most recently chief executive at Global Private Banking and Wealth, appointed to that role in September 2020. Prior to this, she spent almost a decade at the Commonwealth Bank of Australia where she was most recently group executive for wealth management. Spring began her career at Morgan Stanley, initially in investment banking.

In May 2024, this news service talked to Tom Wooders, UK head of Allfunds. In May this year, Allfunds appointed Véronique Uzan as head of France. Her remit involves scaling its B2B platform. This publication also interviewed the business recently to find out how its funds transaction data illuminates the flows into and out of the US, European and other regions' financial markets.