Royal Liver Group

Following Royal Liver’s decision to integrate its UK face-to-face advice division with its subsidiary, Park Row, they have today announced the appointment of a new Chief Executive Officer for the new combined distribution division.

After an extensive selection process, Peter Sprung – who was previously head of Park Row Corporate & Private Clients – has been appointed as CEO of, what will be known as, Park Row – a Royal Liver Company. Peter Sprung’s appointment follows the decision by Tim Newman – the previous CEO of Park Row – to stand down and take up a position as a non-executive director of Park Row.

Peter Sprung will head up Park Row, which – as of March 2006 – will have a combined salesforce of over 600 advisers, including Park Row’s independent financial advisers, its elite Corporate & Private Clients advisers and Royal Liver’s 160 strong salesforce. He will also join Royal Liver’s executive team.

Peter joined Park Row when the company he founded – Citadel Financial Services – was bought by Park Row in 2003. Since that time Peter has been responsible for developing and leading Park Row’s highly successful Corporate & Private Clients division which specialises in the high-net worth and corporate markets. Peter is a well-known industry figure with a passionate belief in the importance of advisers’ commitment to their own professional and personal development. Peter, who himself is a Certified Financial Planner, was National LIA President in 2000.

Talking about the appointment, Steve Burnett, Royal Liver’s Chief Executive, said:
"The appointment of head of distribution for the newly combined distribution arm is a critical one for the business and we went to considerable lengths to ensure we appointed the right person. It is particularly gratifying that, despite having considered candidates from right across the industry, the best candidate for the role was an internal one."

"I am very much looking forward to working with Peter over the coming years and I know he will develop Park Row to build on the significant success it has already achieved."

Peter Sprung commented:
"Park Row is a great company. Having worked within the business for over two years, I have seen at first-hand the tremendous potential within the company, this coupled with Royal Liver’s support, means that we have a very successful future ahead of us."

"I am very excited by my appointment and I’m very much looking forward to the inevitable challenges that lie ahead and to continuing to work to develop the business. We will continue to offer excellent service to our clients and to offer advisers the best career structure and development opportunities in the industry."

- ENDS -

For more information please contact Richard Edwards at Royal Liver Group on +44 (0)151 600 4268.