Mr Gillson is also Non-Executive Director of the Group’s largest shareholder, the Financial Services Opportunities Investment Fund Limited, and will represent the fund on the PraxisIFM Board.

He co-founded the administration company International Private Equity Services Limited (IPES) and retains several directorships of private equity funds. Mr Gillson has also served as a States Deputy and is an Associate of The Chartered Governance Institute.

Chief Executive Officer Rob Fearis, said: “With his many years of experience Peter is a welcome addition to the Board and we’re looking forward to his contribution to the Group’s development.”

The appointment took effect on Tuesday 16 March. PraxisIFM’s search for a new Chairman is ongoing.