Group finance director Jim Kelly will become group business development director and Stephen Harris with join Sesame Bankhall Group (SBG) from Aviva as chief financial officer.
Kelly and Harris will report to SBG executive chairman John Cowan.
SBG is not looking for a replacement for Schultheiss (pictured). A spokesperson for the group said following the change in executives’ responsibilities over the last 12 months, the role of group managing director was no longer required.
New chief financial officer Harris, who will become a board member, is a chartered accountant with more than 20 years’ experience in the financial services industry.
He worked at Aviva for seven years most recently in the life business as commercial and finance lead for strategic programmes. He has also worked at PwC and Legal & General and Friends Life.
Cowan said: “Today’s announcement is a further important step in the evolution of SBG and I am very pleased to welcome Stephen Harris, who brings huge industry experience. In the past 12 months we have significantly bolstered our senior leadership team, with our two new managing directors, Ross Liston and Richard Howells, also joining.
“This is enabling SBG to sharpen its strategic focus across our three advisory brands – Sesame Network, PMS Mortgage Club and Bankhall. SBG is strongly positioned for the future.”
Bankhall and PMS managing director Ross Liston, who joined SBG in November 2018, along with Sesame managing director Richard Howells, who joined in April 2019, will now also report to Cowan.
On Schultheiss’s departure, Cowan said: “I would like to thank Martin for his hard work and contribution during his time with SBG. His energy and commitment have helped to move the group forward and we wish him well for the future.”
Schultheiss will continue to support the business over the weeks ahead as it adapts to the new executive team structure.