Fintel plc (LON:FNTL), a provider of software, data and support services to the UK Retail Financial Services sector, today announced changes to its Board of Directors.

Phil Smith, the Chair of Fintel, has been appointed by the Board as Executive Chairman. As part of his additional executive duties, he will lead the integration of the Mortgage Brain acquisition, also announced today, and will drive broader transformation across the business, with a particular focus on the acquired portfolio and back-office operations.

Mr Smith has extensive experience of integrating businesses within the financial services sector, having founded and served as the Group CEO of Embark Group, creating a £42bn assets under administration platform through a programmatic M&A and integration strategy. In his new role, Phil Smith will be able to apply his considerable industry and operational experience as Fintel accelerates the development of integrated, technology-led propositions for financial intermediaries and product providers.

The Board has agreed that Phil Smith’s appointment as Executive Chairman is expected to be for a period of 12 -18 months, following which it is anticipated that he will resume his post as Non-Executive Chairman. It is expected that Mr Smith will dedicate four days per week initially to the business, with that commitment reducing over time.

Phil Smith’s appointment will create capacity for Matt Timmins, Chief Executive Officer, to further leverage his deep sector-expertise and extensive network to capture the growing market for modern technology-led solutions in the retail financial services sector. He will also apply additional focus to the development and expansion of the Group’s enterprise sales pipeline to drive organic revenue growth.

To further support the Group’s growth strategy, David Thompson, Fintel’s Chief Financial Officer, has been appointed to the new role of Chief Financial and Operating Officer, assuming responsibility for centralised group functions including technology, IT infrastructure, human resources, legal and risk, alongside his existing CFO responsibilities. Mr Thompson will work closely with Matt and Phil on the integration of Mortgage Brain and the enhancement of shared functions within the Group to realise efficiencies and enhance capability across the business.

Following these changes, the Board will comprise three non-executive directors and three executive directors. The Board is already in the process of sourcing an additional independent non-executive director to add further balance, rigour and challenge to the Board.