Robert Walters PLC on Wednesday said Chief Financial Officer Alan Bannatyne will retire and step down from the board on September 1, naming David Bower as his replacement.

Meanwhile, XPS Pensions Group PLC also noted Bannatyne’s retirement at Robert Walters, as Bannatyne is non-executive chair at XPS Pensions.

London-based recruitment firm Robert Walters said Bower previously worked at FTSE 100-listed home emergency repairs provider Homeserve for 18 years before becoming CFO in 2017.

‘[Bower] brings with him a wealth of international finance and listed company experience and I look forward to the contribution he will make as we move the business forward strategically, commercially and operationally,’ said Chair Leslie Van De Walle.

‘I would like to thank Alan for the great contribution he has made across his 21 years with the business. In that time, the group has grown from a business of 760 staff across 9 countries to one of the world’s leading specialist professional recruitment businesses which now employs over 4,000 people in 31 countries.’

Outgoing Bannatyne said: ‘I have had an amazing career with the group, but the time is now right to step down to further pursue my portfolio career.’

Reading, England-based pensions consulting and administration firm XPS Pensions on Wednesday also noted Bannatyne’s departure from Robert Walters, as Bannatyne is XPS Pensions Group’s non-executive chair.

XPS Pensions said Bannatyne’s retirement from his role at Robert Walters on September 1 will mean his sole directorship is at XPS Pensions.

Robert Walters shares were down 4.1% to 423.00 pence each in London on Wednesday afternoon, while XPS Pensions shares were down 0.3% to 194.50p each.

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