Nick Salter has been appointed senior partner at Barnett Waddingham, the actuarial company announced yesterday.
Adrian Waddingham, who has held the position for the past six years, will step down at the end of May. He will, however, remain a partner at the London-based firm, continuing to advise his existing clients and retaining a seat on the company's management board.
His successor, Mr Salter, is a senior figure in the industry and was one of the founding members of Barnett Waddingham when it was established in 1989.
As a member of the company's management boards, he has played a key role in the development of the firm, which now has an annual turnover of in excess of £45m.
Mr Waddingham highlighted Mr Salter's role in the 'team effort' involved in making Barnett Waddingham the company it is today.
'Nick has been a key figure in the firm's development and
his appointment is an important step in the next phase of our firm's expansion
and we are fortunate to have someone of his calibre to take up this important role,'
Mr Salter added: 'Barnett Waddingham has thrived under Adrian's leadership, I have been fortunate to work with him for over 22 years now and I am delighted that he will remain a partner so that we can continue to benefit from his wise counsel.
'I am very excited about the future of the business and look forward to working with my fellow partners and all our fantastic staff to maintain the unique culture of the firm and to continue offering our clients the quality of care, service and innovative advice that underpins everything we do.'