Transact chief executive Jonathan Gunby has announced he will retire from the business in March 2025.
Current chief development officer Tom Dunbar will take over as CEO of Integrated Financial Arrangements – the operator of the Transact platform.
Gunby joined the business in 2011 when Transact’s funds under direction (FUD) were £10bn.
Although he always says that the hardest work – establishing Transact – had been done by 2011, he has been part of a core team who have grown the business to over £65bn of FUD.
He was also a key member of the small team who floated the holding company in 2018, and was a director of the listed entity IntegraFin Holdings plc until he retired from that board at the end of the 2024 financial year.
After 40 years working in financial services and at age 65, he and his wife are looking forward to spending more time on the beach.
Gunby recruited Dunbar as chief development officer in April 2021 as his potential successor.
After a successful initial period, during which Transact has continued to prosper under his guidance, Dunbar was appointed to the Transact board in April 2023.
The board has now appointed him as CEO following a “well-executed” succession plan.
The Gunby family continue to be IHP shareholders and Gunby remains available to provide ongoing support to the business.
Commenting on his departure, he said: “I have thoroughly enjoyed being part of the Transact success story and wish colleagues, advisers and customers all the absolute best for the future.
“Tom has excelled in his role at Transact and I’m entirely confident that I am leaving Transact in extremely capable hands.”
Richard Cranfield, chair of IHP Group, said: “We thank Jonathan for his dedication to and hard work in the business and through his board contributions.
“He has delivered material and profitable growth for the business during his tenure, navigating significant political and economic change, alongside the impacts of the pandemic and a highly competitive platform market.
“We wish Jonathan and his wife Cheryl all the best in retirement.”
He added: “Tom has impressed me and the other board members. We are delighted to appoint Tom as CEO and wish him every success in his new role.”
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