Vertex, the UK’s second largest provider of outsourced business services and technology solutions, will still retain a significant share in the business.
The management team will be led by current managing director, David Child, along with existing directors, Paul Yates and Kevin Budge. Alastair Hazell has been appointed as chairman of the board along with non-executive directors, Ben Gunn and Ivan Martin. Hazell was group managing director for Thomson Financial Europe, Gunn recently retired from running Friends Provident and Martin is executive chairman of Sesame Group, the UK’s largest IFA network.
David Child, managing director, 1st – The Exchange, commented: “We are delighted that LDC has recognised the potential we have to retain and extend our position as a market leader. Together with Vertex, we now have an incredibly strong investment foundation to support and accelerate our future plans.
“The investment represents a clear demonstration of confidence and support in both our business model and the future for the financial services sector. This clearly illustrates the strength of our ongoing commitment to drive forward future growth to the benefit of all our clients, partners and staff.”
