Progeny Group has announced key leadership appointments as part of its ongoing evolution.
Founder Neil Moles has confirmed the appointment of Tom Wood as group chief executive officer, while Bobby Ndawula takes on the role of group chief financial officer.
Since leading the management buyout in 2008, Moles has played a pivotal role in establishing Progeny as an industry leader.
The firm integrates chartered financial planning, asset management, tax advisory and a range of legal services for private and corporate clients.
Over the past three years, the group has expanded rapidly, managing over £9bn in assets and employing more than 700 staff across the UK, UAE, Singapore, Hong Kong and Belgium.
While stepping back from day-to-day operations, Moles will remain actively involved as non-executive director and president, offering strategic oversight and guidance.
The leadership changes are part of a planned evolution that began in 2024 with Tom Wood’s appointment as CFO, the hiring of Tim Gillman as COO, and the appointment of Ewen Stevenson as chair.
These moves are designed to ensure Progeny has a best-in-class management team as it continues to scale its operations globally.
Commenting on the changes, Neil Moles said: “Having founded and led the Group for over 16 years, I have decided after much reflection to step down from my role as CEO and become a non-executive director.
“This decision, while difficult, is the right step for me, my family and ultimately for our business. I have huge pride in and gratitude for the team that I have worked with over many years and without whom Progeny would not be what it is today.
“I’m delighted to confirm that Tom will succeed me as CEO. He is ideally suited to lead the next phase of growth and has been our CFO since February 2024.
“Tom brings a wealth of experience, ambition and strategic focus to Progeny Group. His proven track record leading successful and dynamic growth in regulated financial services gives me real confidence in the future.
“It is really pleasing that we can also announce the appointment of Bobby Ndawula as group chief financial officer. Previously the Group CFO of Skipton Group, Bobby is highly experienced across financial services and his arrival further strengthens our executive team.
“In my capacity as a significant shareholder and non-executive director, I plan to remain actively involved with Progeny on a go-forward basis and look forward to supporting Tom and the team.”
Tom Wood, incoming Group CEO, said: “I am honoured to take on the role of CEO at Progeny Group. Neil has built an incredible company and I am excited to lead it into its next chapter of growth and innovation.
“I am also delighted to welcome Bobby to the Group. He brings extensive experience in financial services, having, until recently, been the CFO of Skipton Group. I very much look forward to working with him in the continued growth and development of Progeny.
“We have fantastic opportunities ahead and our focus will remain on delivering exceptional value to our clients through comprehensive wealth management, tax and legal advisory services.
“I want to ensure that we continue our commitment to staying at the forefront of the industry and meeting the evolving needs of our clients. We have 700 fantastic colleagues whose contribution is at the heart of our development.”
Bobby Ndawula, incoming Group CFO, said: “I’m delighted to be joining the team at Progeny, with its unique multi-disciplinary proposition and excellent client service.
“I feel the company shares my passion for building and coaching inclusive, high-performing teams that create and deliver value for clients and stakeholders.”
Ewen Stevenson, chair of Progeny Holdings Limited, said: “I am delighted to have people of Tom and Bobby’s calibre and track record to lead Progeny Group into our next phase of growth.
“I would like to thank Neil for his outstanding dedication to the Group, having successfully built Progeny to what it is today. Neil remains committed to the business, and I look forward to continuing to work with him on the next phase of growth.
“As Progeny Group embarks on this new chapter, the company remains dedicated to its core values of innovation, client-centricity and excellence. With Tom at the helm and Neil’s continued involvement, Progeny Group continues to be well-positioned to deliver outstanding results for its clients.”
Appointments are subject to regulatory approval.
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