Harwood Wealth Management Group, a UK-based discretionary wealth management firm, has appointed Alan Durrant as its sole CEO.

Durrant previously headed the firm jointly with Neil Dunkley, who will now serve as managing director of financial planning and will also remain in the role of an executive director.

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In addition to the new role, Durrant will also continue to spearhead the firm’s investment management arm Wellian.

Meanwhile, the group CFO Nick Bravery has announced plans to step down from his role on 31 October 2018 and will now hold a non-board position as company secretary.

The firm said that it plans to name a replacement before Bravery’s transition and has already identified some candidates.

The firm said that the changes are partly driven by the demands of the new senior manager regime.

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Harwood chairman Peter Mann said: “As Harwood continues to grow and deliver against its strategy, we believe that the changes made today make the best possible use of the resources within our senior team and are confident that this will continue to enable the Group to thrive.

“The Board is very pleased that we will be retaining Neil and Nick’s skills within the Group. Alongside Alan and the Board, they have led the Group through several years of rapid growth and its listing on AIM. We look forward to their continued contribution in their new roles.”