Financial Planner and professional services firm Progeny Group has added two new non-executive directors as it restructures its board as founder Neil Moles steps back.

As part of Progeny’s plans to 'evolve' the business, Neil Moles will be stepping down from the board and his position of group president and non-executive director.

Newcomers Andrea Hodgson and David Baker have joined the board to strengthen Progeny’s leadership.

Andrea Hodgson is an experienced board director and committee chair and has 25 years experience in banking and financial services. She is a non-executive director of SilverRock Bank and chairs the Audit Committee for GB Bank, having previously been CFO of Cambridge & Counties Bank and before that Chetwood Financial Limited.

David Baker is an economist and has held senior risk and compliance roles in the private and public sector, including in supervision and risk roles at the Financial Services Authority.

He is non-executive director and chair of the Board Risk Committee of Utmost Life and Pensions, having previously been group chief risk officer for AXA UK and Ireland and chair of the Audit and Risk Committee for the Association of British Insurers. 

Ewen Stevenson, chair of Progeny Group, said: “I am delighted that Andrea and David have joined the board. They have huge experience across the UK financial services sector. Both will add immensely to the depth of our board governance and in providing invaluable support to our executive leadership team.”

Progeny appointed new CEO Tom Wood at the start of this year to replace founder Neil Moles who has stepped back from the business.

Mr Stevenson added: "I would like to thank Neil for his substantial contribution to Progeny since inception and wish him well for the future."

After leading the management buyout in 2008, Mr Moles played a key role in establishing Progeny as a pioneer in the industry. The business now combines Chartered Financial Planning, asset management, tax advice and legal services including private and corporate clients.

Over the past three years, the group has expanded rapidly, managing more than £9bn in assets and employing more than 700 staff across the UK, UAE, Singapore, Hong Kong and Belgium.

The company said the leadership changes are part of a planned evolution that began in 2024 with Tom Wood’s appointment as CFO, the hiring of Tim Gillman as COO, and the appointment of Ewen Stevenson as chair.