New fintech CEO role for former Nucleus Financial boss David Ferguson

David Ferguson, one of the most high-profile names in Scotland’s fintech sector, is taking the chief executive reins at investment technology firm Seccl, which is now planning to open an office in the Scottish capital.

Mr Ferguson – the founder and former CEO of Edinburgh-based financial adviser platform Nucleus Financial Group – will join Octopus Group-owned Seccl on April 4, subject to FCA approval.

The latter firm said he led Nucleus to £20 billion in assets under administration before its £145 million acquisition by James Hay and his subsequent departure last September.

“In addition to being a well-known and highly respected figure within the UK’s adviser community, David is also a passionate technologist and supporter of fintech – having served as chairman of FinTech Scotland and fintech envoy for HM Treasury,” Seccl added.

'I’m motivated to join such a respected, disruptive and progressive company,' says Mr Ferguson. Picture: contributed.

The Bath-headquartered firm says its investment technology powers a fast-growing roster of clients – including established wealth-management firms and younger investment platforms like Crowdcube. In 2019 it was acquired by Octopus, the £11bn group of companies that includes Octopus Investments, Octopus Energy and Octopus Ventures.

Current Seccl co-CEOs Sam Handfield-Jones and Dave Harvey will continue in their roles until the arrival of Mr Ferguson, who said he took the CEO role after realising the fintech firm was “the perfect home” for him in the next stage of his career.

“I’m both grateful and motivated to join such a respected, disruptive and progressive company, and to build on the strong foundations that the team has already laid,” he said.

Ruth Handcock, chair of Seccl and chief executive of Octopus Investments, said: “I’m really pleased and excited to welcome David, whose deep sector expertise, proven track record and clear commitment to putting customers first will be of enormous value as we look to further accelerate our growth.

She continued by saying it now has a team of 80, and is “fast becoming the de-facto choice for advisers and fintechs alike – a trend that we are confident David will strengthen”.

It was confirmed in September that Mr Ferguson was to leave Nucleus, having set it up with the backing of a number of financial advice firms in 2006, though its roots stretch back further. “It feels like the right time for me to move on and consider a new challenge,” he said then.

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