He will retire as CEO on 29 April.

Mr Kavanagh has been CEO of Chase de Vere for 12 years and spent 25 years with the firm.

He will be succeeded as CEO by Kathleen Gallagher, who first joined the firm as a trainee financial adviser in August 2000.

Her appointment is subject to FCA approval.

Ms Gallagher took up her first management role in 2005 when she managed a team of IFAs based at Chase de Vere’s London office.

She was promoted to regional manager for the south in 2014 where she was responsible for the firm’s advice teams in Basingstoke, Bath, Cambridge, Cardiff, Exeter and London.

She took up the role of director of advisory services in April 2020 and has since been responsible for the firm’s client proposition and business development.

Mr Kavanaugh said: Stephen Kavanagh, Chief Executive, Chase de Vere, said: “I am extremely proud of everything that Chase de Vere has achieved during my tenure as chief executive.

“I’ve also reached my own personal milestone recently, with my 60th birthday last month, and in light of this and having had the great privilege of being able to achieve so many of my own professional ambitions, I feel that the time is now right for me to take a step back from the day-to-day running of the business.

“I am delighted to have been offered the opportunity to move into the role of Chairman, enabling me to continue to contribute to the company which I love and to which I’ve dedicated the last 25 years of my professional life.”