Wealth management group Kingswood CEO Marianne Ismail has quit the group after holding the role for 18 months.

Ismail, who has decided to pursue other interests, will be replaced by the firm’s executive deputy chairman Gary Wilder. The move will be effective immediately.

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Additionally, group finance director Patrick Goulding will assume the role of CEO of the firm’s subsidiaries.

He will be responsible for directing strategy to ensure achievement of targets.

COO Graydon Butler will work alongside Goulding to strengthen the firm’s operating infrastructure, support functions and resources.

Kingswood chairman Buzz West said: “The Board is very grateful to Marianne for her contribution to the business over the last 18 months. We wish her well in her future endeavours.

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“We are delighted that Gary, Patrick and Graydon have agreed to form the senior leadership team that will successfully execute our growth strategy. Their combined experience will be invaluable as we aim to grow both organically and dynamically by acquisition in the UK and US and deliver long-term shareholder value.”

Meanwhile, Kingswood also unveiled plans to pursue targeted acquisitions in the UK and “gain a foothold” in the US.

For the short term, the firm intends to prioritise critical products such as management and personalised portfolio services. It also plans to deploy a simplified tariff structure.