In a post on LinkedIn, Woolnough wrote: “May 2018 will always stand out as a key date in my life.
“After 30 years’ loyal service to one company, I took the decision to look for a brand new exciting challenge outside the company that has been with me for 2/3 of my life.”
Woolnough started his career with Sun Life in 1988, which was later acquired by Axa. He held a host of roles at the insurer before moving across to Axa Wealth in 2011.
The Isle of Man Axa Wealth business was acquired by Life Company Consolidation Group (LCCG) in September 2016 and rebranded Utmost Wealth Solutions.
Replacement
Woolnough’s successor has been named as Stephen Atkinson, who joins Utmost from the fintech sector.
His title will be global head of sales and marketing.
According to his LinkedIn profile, Atkinson has been an independent marketing consultant for cross border sales and marketing since April 1996.
He previously represented Lombard International Assurance as head of sales, northern Europe.
Utmost chief executive Mike Foy said: “Stephen has a wealth of experience in the high net worth/ultra-high net worth space. His technical knowledge and adviser connections will prove a great asset for Utmost Wealth Solutions’ group of companies and help accelerate our growth.
“Stephen will lead and drive sales and marketing activity across the UK and Europe and will be pivotal in taking Utmost forward.”
Foy added: “I would like to thank Simon for the key role he has played in the progress of the business under the Utmost brand.”
Busy spell
Utmost also recently announced that it has completed the acquisition of Generali PanEurope and inked a deal with Zurich to put its two Isle of Man-based offshore bonds on the Swiss insurer’s platform.
When asked about the deal with a competitor firm, a spokesperson for Utmost told International Adviser: “Zurich doesn’t offer comparable products in the UK. Therefore, the addition of the Utmost products provides an additional option for advisers and complements the other tax wrappers available on the Zurich Platform.”
Utmost’s two Dublin-based offshore bonds, however, have not been included.
The spokesperson said: “For advisers who use the range of services available via a platform, the Utmost Isle of Man range of bonds covers their requirements.
“There are no immediate plans to extend the range of products via the Zurich Platform, but we would always review our activity with a view to ensuring our offering is appropriate for market requirements.”
With regard to costs: “Zurich have negotiated platform-specific terms with Utmost Wealth as part of this partnership,” the spokesperson said.
