AJ Bell in consultancy deal with Helena Morrissey

Helena Morrissey

Salford-based investment giant AJ Bell has revealed details of its consultancy arrangements with outgoing chair Helena Morrissey.

“Further to the announcements on 27 September 2022 and 21 April 2023 respectively about Baroness Helena Morrissey stepping down as chair when a new chair had been found and the appointment of Fiona Clutterbuck as chair with effect from 1 May 2023, AJ Bell today announces that Helena will leave the board on 30 April 2023,” said the Salford firm.

As also previously announced, Helena will continue work with AJ Bell on a consultancy basis after stepping down. AJ Bell Business Solutions Limited, a wholly owned subsidiary of AJ Bell, entered into a consultancy agreement with Helena Morrissey Limited, a company associated with Helena Morrissey, on 28 April 2023.

Under the terms of the consultancy agreement, Helena Morrissey Limited will be paid an annual fee of £150,000 for procuring the services of Helena for not less than 48 days during the term of one year.

“Under the arrangement Helena will continue to provide support for Money Matters, AJ Bell’s initiative to encourage more women to invest, and also help the company to progress its ambitions around the diversity of its own workforce.” 

AJ Bell CEO Michael Summersgill said: “I would like to thank Helena for her contribution to AJ Bell as chair and look forward to working with her in her new consultancy role where we will continue to benefit from her passion and commitment to diversity and inclusion.”

Morrissey said“AJ Bell’s Money Matters initiative is a great source of knowledge and inspiration for women who want to invest more but want some help and guidance along the way.

“There is a gender investment gap in the UK that needs closing and I’m excited to be continuing to work with AJ Bell on this important campaign.”