European Wealth Group Limited (LON:EWG) has announced that its chief executive, John Morton is taking an agreed leave of absence from his duties with the company.
The integrated wealth management group said it has appointed Marianne Ismail as the company’s chief executive officer on an interim basis, with immediate effect.
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Ismail has been a non-executive director of EWG since December 2015 and has significant experience in the wealth management sector, having previously been a managing director for Morgan Stanley's asset management business in London and New York, CEO of Global Wealth Management Europe at Citigroup and Head of Private Banking for EMEA at Standard Chartered Bank.
The company said it will make a further announcement regarding Morton's position as soon as practicable.
In late morning trading, EWG shares held steady at 21p.