Global financial services administration company, PraxisIFM has announced senior management changes. Group Chief Executive Officer, Dr Simon Thornton is to retire from his role and be replaced with Cees Krijgsman.
The new Group CEO, Cees Krijgsman is currently CEO of InAdmin RiskCo, the Group’s technology-led pension administration business. Dr Thornton will remain as a Group Director to facilitate the handover to Mr Krijgsman.
Dr Thornton joined PraxisIFM in 1992 as a trainee Chartered Accountant, and he has overseen a period of substantial growth for the Group, including the listing on The International Stock Exchange in April 2017. During a busy two-year period since then, staff numbers have increased from 300 to 550, the global footprint from 10 jurisdictions to 19 internationally, and Assets under Administration from US$40bn to US$90bn as at the end of January 2019.
PraxisIFM Group Chairman, Andrew Haining, said: “The Group is well placed for the next stage in our development with discussions well underway for a planned listing on the London Stock Exchange next year. With this strategy in mind, Simon considered that this was the most appropriate time for both him and the business, to hand over the reins.”
Following an independent, internal recruitment process involving leading executive search and leadership advisory firm, Spencer Stuart, the Board of PraxisIFM has appointed Cees Krijgsman, as Group CEO with immediate effect.
“InAdmin RiskCo became part of the PraxisIFM Group in November 2017 and so Cees is very well known by the senior management team and the Board,” said Mr Haining.
“Simon will be available over the next six months to ensure a smooth transition and Cees and the senior team look forward to working together on the next chapter in our development where technology plays an increasingly important role.”
Reflecting on his career with the Group, Dr Thornton said it has been an incredible journey and one that he is proud to have played such a long and meaningful part in. “I remain a Group shareholder and believe that the business is in a very strong position and well placed for the next stage in its development,” he added.
Netherlands-born and educated, Mr Krijgsman has worked at senior level for technology-led companies since 1991. He joined InAdmin RiskCo in 2013 and has led its strategic development into a pensions administration outsourcing company with blue chip clients including AON, United Pensions and Hewlett Packard. Mr Krijgsman holds a degree in Mechanical Engineering.
“It is an honour to be appointed as Group CEO and I’m very excited and motivated for the future,” said Mr Krijgsman.
“I’m looking forward to working with the PraxisIFM team and clients going forward. I thank Simon for the significant development and platform for growth that he has been so influential in creating.”
Mr Krijgsman’s appointment is effective immediately, subject to regulatory confirmation.