The senior figure had been appointed to the post of chairman as recently as May this year. He is stepping down for personal reasons and his replacement has been announced.

Glyn Barker, the former PricewaterhouseCoopers figure whom Quilter named as its chair in May, is stepping down from the role for personal reasons.

Having previously undertaken this role with a view to handing over to Barker, the board has confirmed that Ruth Markland will chair the business, and Tim Breedon will be the senior independent director, the UK firm said in a statement yesterday. 

“While we are disappointed by Glyn’s decision, we very much understand his personal reasons for making it. We thank Glyn for his contribution to the board over the last several months and he leaves with our very best wishes,” Markland said. 

“I am looking forward to continuing as chair of Quilter and thank my board colleagues for their support and confidence. I have tremendous faith in Quilter and our management team, led by Steven and Mark, and look forward to delivering on our potential and achieving good outcomes for all stakeholders in the coming years,” she said. 

Breedon added: “I share Ruth’s disappointment at Glyn’s decision but similarly understand his reasons and wish him the very best. On behalf of the board, I would like to extend our thanks to Ruth for agreeing to continue her chairmanship of Quilter. She has provided excellent leadership since becoming chair after our last AGM and has made an invaluable contribution to the board and broader company since our listing in June 2018.”

Before joining Quilter in May, Barker was vice chairman of UK and chief executive markets: Europe, Middle East, Africa and India, at PwC. He has held a number of senior non-executive positions including chair of the Berkeley Group Holdings and senior independent director of Aviva.