Mr Foster’s appointment is subject to FCA approval.

He has been with BW for three years as head of proposition and implementation.

Before joining BW in 2019 he was with Zurich for 27 years holding a multiple number of positions, including head of Zurich's international corporate pensions and corporate risk business. 

Simon Foster said: “BW SIPP’s reputation for technical excellence in the marketplace, alongside the firm’s long-standing customer focused culture is what attracted me to this role. I look forward to taking the reins and working closely with our business partners, especially in response to the FCA’s Consumer Duty.” 

Alex Pocock, managing partner at BW, said: “Simon's previous experience as a leader of a significant pension administration business, a director of a SIPP operator and a FCA Approved Person equips him well for the role.

“I would also like to take this opportunity to thank Julia Bassett for her tremendous contribution as the head of BW SIPP over a number of years.”

Julia Bassett has been appointed head of partnership matters for BW on an interim basis. Under her leadership BW SIPP grew substantially.

It now administers more than 62,000 SIPPS and has more than £13bn in assets under management, including more than 1,300 commercial properties.

The organisation has accumulated significant experience in providing white-label SIPPs and third-party administration.