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Cupis leaves Sesame as board restructures

Sesame Bankhall has announced the departure of its mortgages and wealth management bosses following a restructure of the network’s board.

Sesame revealed last week that mortgages managing director John Cupis had left the network. He has joined Openwork as its mortgage director, although his departure date had yet to be decided. 

Wealth management managing director Pan Andreas departed the business in July while marketing director Jon Dear left in April.

Sesame managing director Stephen Gazard will assume a broader remit, giving him responsibility for supporting advisers across both wealth and mortgages. He will be supported by Lisa Martin, who becomes director of mortgages as well as continuing to lead the PMS Mortgage Club. 

Head of member and customer support Stuart Davies will take on a broader role as director of network operations and finance director Jim Kelly will become group commercial director.

The changes come as Sesame continues to restructure after its March announcement that it would no longer operate as a network for investment advice.

The board continues to be led by executive chairman John Cowan, working alongside non-executive directors Diana Miller and Nick Criticos. Sesame has also recruited KPMG partner David Burlison as a non-executive strategic implementation director, subject to FCA approval. Replacing the retiring Jim Newman at Sesame, Burlison will additionally retain his current role as the consulting giant’s global head of restructuring.

Cowan says: “I am excited to be leading this strong and talented management team and we look forward to delivering quality services to both wealth and mortgage advisers.

“The outlook for our markets and our profession is incredibly positive, so a key objective is to ensure that we continue to place customers at the centre of all our activities as we implement our plan to continue to build a successful and sustainable business.”

Cupis’s appointment completes Openwork’s new management team after it restructured the business into three business units – wealth, mortgage and protection – with a director for each.

Openwork chief executive Mark Duckworth says: “We are thrilled that John has agreed to join Openwork during this extremely exciting period for the business.

“John’s experience, expertise and commercial acumen are second to none and his arrival is a major signal of Openwork’s intentions in the UK mortgage market.

“With directors now appointed to run all three business units, we are well positioned to develop our distribution proposition and increase our overall profitability from its very solid base.”

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