Hood and Charles exit Old Mutual Wealth roles

Old Mutual Wealth chief operating officer Jeremy Charles and customer director Carlton Hood are stepping down from their roles.

Charles is to retire in the first half of this year, which the firm says was agreed when he joined in 2012 while Hood’s role is to be made redundant.

Hood – a former Channel 4 presenter – first joined the Old Mutual Group in South Africa in 2000. Before returning to work for Old Mutual in the UK in 2011, he was chief executive of confused.com.

A spokesman says Hood is “exploring other opportunities inside the wider Old Mutual Group”.

Charles will be replaced by chief investment officer Paul Penney.

In October 2015 Old Mutual Wealth launched a national advice arm, employing around 250 advisers. Earlier this month Money Marketing revealed the group’s adviser network, Intrinsic, is in talks over acquiring rival Tenet.