The departing CEO is stepping down after seven years to become an advisor for an investment firm.

UK wealth manager Tilney has appointed Chris Woodhouse as chief executive. 

Woodhouse will succeed Peter Hall, who is stepping down after spending seven years at Tilney. Hall will become an advisor to investment firm Permira, the firm said in a statement.

Until February 2017, Woodhouse was CEO of UK motoring and financial services group RAC, a position he held for five years.  Woodhouse has previously held senior management roles at a number of well-known UK brands including deputy CEO and finance director of Debenhams and commercial director and deputy CEO of Homebase prior to its sale to GUS. 

“We are delighted to welcome Chris to Tilney where his career and experience working with some of the UK’s most recognisable brands will bring real value to Tilney’s already strong market position,” said Will Samuel, chairman of Tilney. “I would like to thank Peter for his major contribution to the development of the firm. Peter has served as chief executive of Tilney since 2010, leading the organisation through a period of rapid growth.

He has been responsible for the successful integration of the Tilney, Bestinvest, Ingenious and Towry businesses to create one of the leading wealth management firms with over £23 billion ($30.5 billion) of client assets and an excellent reputation."

The firm has been expanded its presence within the UK with a number of hires and acquisitions, and most recently, in September, this publication reported that Tilney had appointed Harry Driscoll to its investment research team as a senior fund analyst.