Nutmeg has appointed chief financial and operating officer Neil Alexander as its new chief executive, with Martin Stead leaving the business in early 2020 to move overseas.
During his time at Nutmeg, Stead has helped to secure £90 million of capital investment into the company to fund growth plans and expansion into new markets in Asia.
Alexander joined Nutmeg in May 2017 from Secretsales, where he helped it achieve a sale to Wowcher.
Nutmeg chairman William Reeve said: “Following over four years leading the transformation of Nutmeg from start-up to scale-up, Martin Stead will be leaving the company in early 2020 in order to move overseas; Neil Alexander has been appointed chief executive officer to lead the business through its next stage of growth.”
Stead commented: “Nutmeg's mission is as important today is it was when I joined in 2015.
“I’ll be keeping track of my investments through the Nutmeg app, but I leave confident that Nutmeg will continue successfully on its path to achieving profitable scale as Neil Alexander takes on the reins.”
Matt Gatrell, chief technology officer, will also join the board as an executive director.
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