British wealth manager Tilney Bestinvest has appointed Will Samuel as its chairman, replacing Mike Covell.

Samuel, who has over 35 years of industry experience, currently serves as the chairman at TSB Banking Group.

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He previously worked at Schroders, which he joined in 1977. In 1986, he became managing director at Schroders Investment Banking business and after its sale to Citigroup was appointed co-CEO of Schroder Salomon Smith Barney.

He earlier also worked at Lazard, which he joined in 2004 as vice chairman and served as senior adviser from 2011. He became senior adviser to the Prudential Regulation Authority in 2012.

Tilney Bestinvest CEO Peter Hall said: “This has been a period of major growth and development for the group, seeing the creation of a leading investment and financial planning business offering the highest levels of personal and professional service.

“We are very fortunate to have Will as our incoming Chairman, who will bring huge experience and expertise to our business.”

The appointment of Samuel at Tilney Bestinvest is subject to FCA approval.