International Financial Group Limited (IFGL) has appointed Rob Allen as its new group chief executive officer (CEO).

Mr Allen will succeed David Kneeshaw as CEO on May 1 .

It was announced last month that Mr Kneeshaw would be stepping down as boss of the island-based provider of investment, savings and protection solutions after 21 years with the firm.

At the time Mr Kneeshaw, who will be staying on as a special adviser to the company’s board, said: ‘I’m now 68 and it’s the right time for a new CEO to take the business forward.’

He said he was looking forward to having more time with his family in retirement and ‘spending more time doing the things I enjoy, such as skiing, golf and cycling’.

Mr Allen joins IFGL from Warwickshire-based Independent Wealth Planners (IWP), a provider of financial planning solutions across the UK, where he was CEO.

IFGL employs more than 520 staff across its two offices in Douglas and Castletown and is perhaps best known in the island for its RL360, Friends Provident International and Ardan International brands.

Luigi Sbrozzi, partner, and Robert Perry, senior principal at Cinven, the majority shareholder of IFGL, said: ‘Rob has significant leadership experience and a very successful track record of developing and growing large financial services distribution businesses.

‘We believe Rob is the right person to lead IFGL through its next phase of growth.’

Mr Allen brings more than 25 years’ experience across financial services to the role, having held senior leadership positions in some of the most well-known and recognised names in the industry, including NatWest Group Plc, HSBC, and Westpac Banking Corporation.

Mr Allen said: ‘IFGL is a standout success story.

‘It's clear that the business continues to thrive because of its outstanding people, deep relationships with advisers and its absolute commitment to both serving its customers to the absolute best of its ability and conducting itself in a highly ethical manner.

‘David and the team have built a formidable business, and with these strong foundations in place I am excited by the opportunities ahead.’

As a independent provider of investment, savings and protection solutions to expats and wealth management clients globally, IFGL has $27bn in assets under administration and 400 worldwide broker partners.

The business has a well-developed strategy of organic growth by opening up new markets, and also through targeted merger and acquisition activity.

Mr Kneeshaw, added: ‘Rob’s global background and key distribution knowledge were key factors in the selection process.

‘I am delighted that Rob will lead IFGL as I retire and am confident the business will continue to develop at pace and with significant success.’

- Share your workplace news with us! Whether it's achievements, events, or milestones, we’d love to feature it in our newspapers and websites. Email details to [email protected], and don’t forget to include your phone number so we can verify information quickly. Help us highlight your workplace’s successes!