Senior appointments at PraxisIFM following merger

Friday 03 July 2015

PraxisIFM has made three senior appointments as part of its plans for future growth.

The merger of Guernsey-based Praxis Group and Jersey-based IFM Group to create one of the largest independent and owner-managed financial services groups headquartered in the Channel Islands was finalised last month following regulatory approval.

The group has now announced that Rebecca Murphy has been appointed as group chief finance officer and Andrew Ingrouille as group head of operations. Director Richard Kearsey has become managing director of PraxisIFM Trust Limited in Jersey.

"With combined revenues of over £23 million, assets under administration of more than $30bn, nine offices around the world and over 200 people, it’s absolutely essential that PraxisIFM has the strongest possible management team so that we achieve our vision for growth and that clients continue to receive the highest level of service," said Brian Morris, PraxisIFM executive chairman.

"All three of these positions will play an integral part in leading the business forward allowing PraxisIFM to increase its range of services and grow its global footprint. Rebecca, Andrew and Richard have extensive experience and expertise and their knowledge of the group’s operations will be vital as we integrate the businesses and ensure every jurisdiction is following the same client-focussed approach."

Irish-born Mrs Murphy moved to Jersey in 1997 and commenced her accountancy training with ANZ Grindlays Trust Company.  In 2001 she joined Moores Rowland as a senior auditor progressing to assistant manager and qualifying as a Chartered Certified Accountant. She joined IFM Trust Limited in 2004 and was promoted to associate director in 2011.

"Having worked on the client administration side for a number of years, I understand the business at every level. In my new role, I want to make the business more efficient and profitable by delivering timely information on budgeting, strategic planning, forecasting, cash-flow planning and consolidation," she said

"PraxisIFM operates in Malta, Luxembourg, Geneva, South Africa, the UK, Mauritius, New Zealand, Dubai, Guernsey and Jersey and so the challenge will be to understand each of those business and then implement efficiencies where it is necessary and not just for the sake of it."

Mr Ingrouille joined Praxis in 2000 and for the past 15 years, has had responsibility for the effective and efficient running of the central services and internal administration functions of a multi-disciplinary group.

In his new role, Mr Ingrouille, who holds both the certificate and diploma in company direction from the Institute of Directors, will also be responsible for the group’s IT strategy.

"The main challenge of my new role will be to ensure that the enlarged group works efficiently   together and that the experience and history of the two merged groups is respected and enhanced," he said.

Mr Kearsey, who is married with two children, qualified as a Chartered Accountant with KPMG.  He then spent 10 years as a partner of a local practice, Ireson & Kearsey before becoming a partner in Moores Rowland in 1999.  In 2001, after a three-way merger he became a founder member of IFM Group.

"As managing director of Jersey, my main responsibility will be the day to day management of the trust business but I’m looking forward to using my previous experience of mergers to assist in the integration of the Guernsey and Jersey operations and being involved with the strategic decisions for the group to make PraxisIFM one of the best independent owner-managed offshore fiduciary businesses in the world," he said.