Liston had taken on the role of interim chief executive from 1 August, after Michele Golunska has left the chief executive role to become managing director of wealth and advice at parent company Aviva.
He is understood to be leaving the business for an opportunity elsewhere, although his next role is currently unknown. Sources said that the decision was “amicable”.
Liston has worked at SBG for around four years, initially joining as managing director for Bankhall and PMS Club, he then took on the role to become the group managing director for distribution.
Prior to that he worked at Standard Life Aberdeen for nearly three decades in various senior roles, including head of adviser relationships, head of strategic partnerships and head of advisory distribution.
John Cowan became executive chairman of SBG in 2014 and has been chair since 2020.
Over his 40 years in financial services he was worked at a variety of firms including Scottish Amicable, Prudential, National Australia Bank and MLC Investments. He also holds a number of non-executive chairman positions at Money Option Group and Uinsure.
Cowan was awarded the Bharat Sagar lifetime achievement award at the prestigious British Mortgage Awards this year.
He will take over the interim CEO role on a temporary basis. He will oversee the day to day managing of the business in addition to leading the recruitment process for a new permanent CEO.
‘SBG will play a vital role’ in mortgage sectors future
Cowan said that the firm was “very grateful” to Liston for his contribution he had made to the business and wished him all the best for the future.
He continued: “SBG is a fantastic organisation full of brilliant people doing important work to ensure we remain the UK’s leading provider of adviser support services.”
Cowan added that whoever takes on the permanent CEO role would be taking on a company that is “financially strong, forward-thinking, ambitious and a leading voice in our sector”.
He noted: “We are only after the best and therefore we are prepared to take our time to ensure that we get the right person for the job.”
Liston added: “I have had a wonderful time at SBG over the last four years and worked with some of the most talented people in the industry.
“The business has gone from strength to strength in the time I have been here and is in great shape for the future. There has never been a greater need for advice and the prospects for our industry look bright. And I am certain SBG will play a vital role in its future.”
‘Advisers will see no change’
Cowan added that the firm prided itself on its ability to stay ahead of the curve when it comes to knowing what its advisers and partners needed to do their job effectively.
He continued: “To achieve that, you need a long-term strategy. Thankfully we have a fantastically talented and experienced board and executive team in place that has helped us develop a clear plan that we believe will serve us and our advisers well into the future.
“While I’m taking on a slightly different role temporarily, advisers will see no change. We will still provide the top-class service that everyone expects from us and will continue to champion the cause for the financial advice industry.”
SBG has around 10,000 advisers, and this year combined completions between PMS Mortgage Club and Sesame Network increased 18 per cent year-on-year to £50bn.
