The founder and CEO of B2B wealthtech platform Allfunds, Juan Alcaraz, is to leave the business and will be replaced by Annabel Spring.
A statement from the company said Alcaraz was leaving to take on new but unspecified challenges. He will move into an advisory role for the next twelve months “to ensure a smooth leadership transition”, the statement said.
Spring will join Allfunds this month following six years at HSBC where she was most recently CEO of Global Private Banking and Wealth.
Prior to this, she spent almost a decade at the Commonwealth Bank of Australia where she was most recently Group Executive for Wealth Management. Annabel Spring began her career at Morgan Stanley initially in investment banking before moving into Group Strategy where she was Global Head of Firm Strategy and Execution.
Alcaraz founded Allfunds 25 years ago as a small business unit within Banco Santander, steering its growth into a global platform for wealth businesses and their end clients with current assets under administration of over €1.5tn, servicing 940 distributors in 66countries.
David Bennett, Chair of Allfunds, said: “Juan Alcaraz has led Allfunds with great dedication since its launch through its key milestones, including the IPO in 2021, and has worked ceaselessly to serve the business, our clients and shareholders.
“The Board is delighted to welcome Annabel Spring as our new CEO. Her extensive experience leading global wealth management businesses, her broad understanding of international banking and her focus on people, technology and client experience makes her the ideal leader for Allfunds’ next phase of growth.”
Source: Fund Europe
