Quilter has announced that Mark Satchel is appointed as their Chief Financial Officer with effect from 13 March 2019. Photo: Timothy Bernard/African News Agency (ANA)

DURBAN – Quilter has announced that Mark Satchel, currently Quilter’s corporate finance director, is appointed chief financial officer with effect from March 13, 2019, subject to regulatory approval. 

Tim Tookey the current chief financial officer will be stepping down from the board on 13 March 2019.

Tookey made a significant contribution to the creation of Quilter plc as a standalone company and its subsequent listing in June 2018.

Tookey and the Board have agreed that he would leave the company at the end of April 2019, having completely transitioning the role to his successor. "The board is pleased to appoint Mark Satchel, currently corporate finance director, to the role of chief financial officer at which point he will join the board."

Satchel has a long history at Quilter having been an important member of the Old Mutual Wealth executive committee for many years. 

He has also worked closely with Tookey over the last two years on the preparation for the listing.

Glyn Jones, chairperson of Quilter said: "I would like to thank Tim for his very significant contribution to the creation of Quilter. We are sorry to see him go but he leaves with our best wishes for the future and his return to a plural career." 

On the appointment of Satchel, Jones said: "The Board is delighted to appoint Mark Satchel to succeed Tim. Mark is very well known to the Board and highly regarded."