LON: BPT – Bridgepoint Chair William Jackson to Exit

Bridgepoint Group (LON: BPT), a prominent asset manager, has announced a significant shift in its leadership as founder and outgoing chair William Jackson prepares to step down from his role on the board this summer. Jackson, who has seen the company through its landmark stock-market debut in 2021, noted this transition period as a “good time” for the company to move to an independent non-executive chair.

Despite leaving his board position, Jackson will continue in a leadership capacity, overseeing the private equity business of Bridgepoint.

Tim Score, currently at the helm of British Land as chair, is set to fill Jackson's shoes at Bridgepoint Group, starting from July 1. Score brings a wealth of experience, having previously served as the deputy chair and director at the housebuilding company Persimmon as well as operating in prominent roles such as a non-executive director at HM Treasury. Score’s extensive financial background is further highlighted by his 13 years as CFO at ARM Holdings, a leading technology company.

Apart from his professional undertakings in finance and corporate governance, Score is active in various non-profit and community initiatives. His current engagements include chairing the national cricket charity Chance to Shine, serving as a non-executive director at the Football Association, and fulfilling responsibilities as a board trustee at the Royal National Theatre.

Bridgepoint also announced that Ruth Prior will soon take on the position of the chief financial officer, replacing the outgoing CFO Adam Jones. Prior is well-acquainted with the workings at Bridgepoint, having been the CFO at Element Materials Technology, a former portfolio company of the asset manager. Her appointment promises to bring continuity and experience to the company’s financial operations.

Significantly, Score's appointment coincides with his decision to retire from British Land after completing a five-year tenure. His move to Bridgepoint Group is indicative of the strategic shifts taking place within leading British firms, as experienced executives seek new challenges and bring their expertise to different sectors.

The planned leadership changes come at a crucial time for Bridgepoint, which faces the challenges of navigating a dynamic financial environment while maintaining growth and investor confidence. With new leadership in place, Bridgepoint aims to sustain its robust performance and strategic initiatives under fresh guidance. The asset manager's stakeholders are anticipating a smooth transition, as the company positions itself for future endeavours in the private equity landscape.

Since the start of 2024, BridgePoint shares (LON: BPT) have endured a difficult time, dipping 18.86%. Since the IPO, the stock price is down 54.13%, so it will be hoped by holders that a leadership change may coincide with a shift in sentiment.

As Bridgepoint Group embraces this new chapter, the company acknowledges William Jackson's commendable legacy and expresses optimism for the strategic direction under Tim Score's prospective chairmanship.