True Potential, a prominent player in the wealth management sector, is experiencing a strategic leadership shift.
CEO Daniel Harrison has announced his departure, marking the end of a significant era.
A significant leadership change is underway at the North East wealth management firm, True Potential, as its CEO, Daniel Harrison, steps down after seven years at the helm. His departure follows a strategic transition plan initiated when the firm sold a majority stake to the private equity firm Cinven, a transaction which reportedly valued the company at a substantial £2.5 billion. This move aligns with True Potential’s commitment to evolve and adapt in the dynamic financial landscape.
Under Daniel Harrison’s leadership, True Potential has demonstrated remarkable growth and success. Since its inception in 2007 by Daniel and his father, David Harrison, the company has expanded its revenue to an impressive £163 million. Furthermore, the company has been the recipient of 81 industry awards, underscoring its leading role in the sector. Mr. Harrison has also been integral in charity efforts, with £25 million donated to various causes through the Harrison Foundation.
Reflecting on his departure, Daniel Harrison stated, “While I understand this news may come as a surprise, I want to assure everyone that this decision was made with the future of True Potential in mind.” He emphasised the firm’s focus on developing a competent executive team capable of guiding True Potential into the future. This transition is seen as a strategic effort to secure the firm’s position and continue to build on its successes thus far.
During his career, Mr. Mallon has also served as the CEO of Ulster Bank Ireland and Danske Bank UK, further highlighting his profound experience in the banking sector. He expressed his enthusiasm for joining True Potential, stating, “I am delighted to be given the privilege to lead True Potential for the next exciting chapter of its growth.”
His role as interim CEO comes at a crucial time, providing a seamless transition while maintaining the company’s momentum in delivering its financial services and client-focused initiatives.
With a commitment to continuing the company’s charitable endeavors, Mr. Mallon also plans to maintain the robust partnership with the Harrison Foundation, ensuring that philanthropic efforts remain a priority alongside business objectives.
True Potential stands at an important juncture with the leadership transition from Daniel Harrison to Gerry Mallon.
This change is poised to bring new opportunities for growth and innovation, while honouring its foundational commitments.
