By: Fulcrum Group
The Fulcrum Group, a financial services brand offering bespoke lending, investment and management services, specialising in insurance markets, has announced the resignation of founding partners, CEO Vaughan Jones and Ian Bain, Executive Chairman. Jones will be stepping down at the end of January 2018 and Peter Gordon, Head of Fulcrum Capital will assume his responsibilities.
“I have had a tremendous journey with the Fulcrum Group. From our beginnings eight years ago, with four employees, to our recognition today as the largest premium financier in Africa and managing over R18bn of annual premium, I am tremendously proud of what the team has achieved. I am grateful for the support and guidance of my partner Ian Bain as well as for the opportunity and the backing of our shareholders and loyal clients over the years. It’s been a privilege to be a part of such a special team of people” says Jones.
Jones will take a short sabbatical to spend time with his family before embarking on his next venture.
Says Bain, who will step down as Chairman of the Group at the same time as Jones and will be replaced by Dean Hyde from Skein Capital: ‘’It’s been a challenging and exciting time and I am happy that it’s right for the business to move to the next phase of its development. It has been a wonderful experience working with Vaughan and the rest of the Fulcrum team and to have been part of a truly unique and exceptional business”. Bain will consider retirement and the opportunity to pursue other interests.
Gordon who worked with Jones over ten years ago, joined Fulcrum in 2015 to lead Fulcrum Capital. Under his guidance, Fulcrum Capital has expanded into the broker equity partnerships market whilst continuing its growth in the insurance related specialist lending market.
With an experienced and well-respected team member such as Gordon taking over the reins, Jones expects the transition to be smooth. “I wish Pete and the team all the very best as they steer Fulcrum to new heights during the next part of its evolution. I have no doubt that the future is bright.”