He will take over the chair from 7 September, subject to regulatory approval.

Mr Barker will join the Quilter board as a non-executive director and member of the reumeration committee, and corporate governance and nominations committee from 1 June.

He replaces Glyn Jones who is stepping down this month ‘to pursue other interests’.

Mr Jones announced last October that he planned to step down as chair and director of the firm. He has served as chair of the firm since November 2016 and oversaw the firm becoming a standalone listed company and rebranding in June 2018.

He said it was time for the firm to find a new chairperson following the wealth manager and Financial Planner’s reorganization and a refresh of the board.

Ruth Markland, formerly senior independent director at the firm, is currently serving as interim chair.

Mr Barker spent the majority of his executive career with PwC, including as vice chairman UK and chief executive markets: Europe, Middle East, Africa and India.

He has held a number of senior non-executive positions including chairman of the Berkley Group Holdings and senior independent director at Aviva.

He will step down as chair and non-executive director of Berkeley Group before September.

Mr Barker said: “I am deeply honoured to be appointed to chair the Quilter board. Quilter is a business which has completely transformed itself since its listing in 2018 and I am very much looking forward to playing a role in ensuring it fully delivers on its undoubted potential.”

Paul Feeney, CEO at Quilter, said: “I am very pleased that Quilter has been able to attract a chair of the calibre of Glyn Barker. Having repositioned the business as a focused UK wealth manager, my management team and I welcome the appointment of Glyn Barker who will help us to fully leverage the fantastic capabilities of our business for the benefit of all our stakeholders.”

The Quilter board has recently seen a number of changes including the firm’s Financial Planning chair joining the main board in July.