Nucleus sets out group leadership changes following completion of Curtis Banks acquisition.

  • Alex Kovach decides to step back at end of year
  • Mike Regan to be appointed group CCO from 1 January 2024
  • Peter Docherty to be Nucleus group CRO from 1 January 2024

Nucleus Financial Platforms, one of the UK’s largest adviser platform groups with £80 billion of assets under administration from 250,000 customers, is today setting out changes to its Executive Committee for 2024. The planned changes follow the announcement of the completion of the Curtis Banks acquisition on 26 September 2023.

Nucleus Chief Commercial Officer (CCO) Alex Kovach signalled earlier this year that he intended to step down after helping navigate the successful completion of the Curtis Banks deal. Now the transaction is complete, it has been agreed that Alex will leave at the end of the year and will be replaced by Mike Regan, currently Nucleus Chief Financial Officer (CFO).

Alex Kovach joined from Interactive Investor in 2020 and has helped spearhead the rapid growth of the business via the acquisition and integration of Nucleus Financial plc, growing sales through new client wins, and the repositioning of the combined group as a purpose-driven, brand-led, scale leader in the sector. He’s led its commercial team to focus on investing in the priorities of advisers, improving products, service and price, so they can help make their clients’ retirement more rewarding.

Mike Regan has been CFO of Nucleus since September 2022 and is an experienced board-level director. His career track record includes success in M&A, leading business transformation, understanding client needs and developing high performing commercial teams. Subject to regulatory approval, from 2024 this experience will help drive Nucleus’s next stage of growth as CCO. Mike remains CFO until the end of the current year, and the process to appoint a new CFO has already started.

Peter Docherty, currently Interim CEO at Curtis Banks will become the Nucleus group’s Chief Risk Officer (CRO) from 1 January 2024, subject to regulatory approval. In the meantime, Peter retains his Curtis Banks CEO role.

Peter has more than 20 years of experience in financial services. Since joining Curtis Banks in January this year, he led the team to successfully navigate the sale of the business to Nucleus. He was previously CEO and Managing Director of Embark Platform, and before that, CEO and CRO of Alliance Trust Savings.

Richard Rowney, Chief Executive Officer of Nucleus, said: “The completion of the Curtis Banks acquisition is an important milestone in our corporate journey, and accordingly the right time to look to the future and plan ahead. On behalf of the Board and everyone who works in our group, I’d like to recognise Alex’s huge contribution towards the growth and transformation of the business, and thank him for everything he’s helped us achieve. I also thank him personally for his dedication and the support he’s given me personally, and I wish him well for the future.”

“This is an exciting time in our development into a scale leader in this sector, and I’m pleased to be able to appoint Mike and Peter into these important roles as we continue to build the UK’s leading, independent, adviser platform group.

“Both have proved themselves to be exceptional leaders, with the intellect, skills and experience we need to offer advisers the platform and support that will help deliver great outcomes for their clients.”

Alex Kovach, Chief Commercial Officer added: “With the acquisition of Curtis Banks complete, and after three and a half excellent years with the business, I’m following through on my intention to now move on. I look forward to handing over the commercial baton to Mike so he can help lead the business through its next phase of growth.

“I’ve hugely enjoyed my time with Nucleus and I’m really proud of what I’ve achieved, most significantly building a fantastic commercial team. My roles at both ii and Nucleus have been characterised by rapid growth and transformation, and I’m now looking to take some time out before starting the next chapter.”

You can download a PDF of the press release here 


Enquiries: 

Tom Allison
TB Cardew
T: 0778 9998020

Linda Harper
Head of Public Relations
E: newsroom@nucleusfinancial.com   
T:  +44 (0) 7876 145309


Notes to editors:

The Nucleus Financial Platforms group offers investment platforms and products exclusively to financial advisers, that ultimately help make retirement more rewarding.
Renowned for its SIPP expertise, James Hay Partnership has been working with larger financial advisory groups for more than 40 years, providing the means to administer pensions, savings and investments in a cost and tax efficient way.
Our award-winning platform Nucleus was founded in 2006 by advisers committed to altering the balance of power in the industry by putting the customer centre stage.
Curtis Banks is one of the UK’s largest administrators of SIPP and SSAS solutions for customers and businesses. It is one of Europe’s largest commercial property landlords, a specialist area for self invested pensions. The business maintains a focus on providing high levels of technical support, robust service, modern technology and innovation.
Together we’re one of the UK’s leading, independent, adviser platform and product groups, with approximately £80 billion in assets under administration, helping nearly 5,000 advisers make retirement more rewarding for almost 250,000 customers.