The right job at the right time: why a former Fidelity CEO and Barclays executive joined the Multrees team.

01 August 2017

Hugh Mullan joined Multrees as a non-executive director in March 2015, bringing with him extensive senior level experience in running retail investment and investment management businesses.

His previous roles include UK CEO for Fidelity Worldwide Investment, as well as executive positions at Barclays Wealth, Schroders and Citibank.

“As an outsourcing services business, I was attracted to Multrees by the prospect of joining a dynamic and growing company. In particular, one that’s working at the cutting-edge of many technological changes within the industry.

“My experience and expertise dovetailed neatly with what Multrees was looking for. After stepping back from a full-time executive position, this was exactly the kind of exciting role that I had been seeking.”

Part of Hugh’s role at Multrees is to help develop, broaden and maintain the service and technological capability it offers: “I was the Chief Executive Officer of a global investment and distribution business and so I understand the challenges that a company like Multrees faces.”

Hugh’s executive experience has also seen him manage complex change programmes: “Multrees’ clients face a number of evolving challenges and opportunities. Part of my role is to help them manage this change, as well as to identify how Multrees itself can adapt and evolve as a business.

“I have a lot of experience in this area: researching complex markets which are influenced by a whole range of factors. I explore how businesses position themselves to meet these future challenges. This doesn’t just involve strategic thinking; it includes making decisions about the best way to take a business forward, and taking responsibility for these decisions.”

Alongside his technical expertise, Hugh has the requisite regulatory and compliance experience. “One of my roles at Multrees is to head up the Audit and Risk Committee, which is particularly important as the wealth management industry faces a number of challenges. Externally, change will be strongly influenced by the regulatory environment and technical developments, and this is where firms like Multrees can excel. Many companies don’t have the resources or time to research all the latest tech options – for example, the emerging use of blockchain for trading and record keeping. Instead, they may prefer to utilise the services of a company like Multrees that offers this expertise.

“These external factors aren’t the only thing driving change in the wealth management sector. Our clients’ demands are also changing, as are the expectations and requirements of their customers. Ultimately, we are designing products and services that help meet these changing needs.  

“For example, a traditional high-net-worth client may in the past have been happy for a private bank to look after their portfolio without providing frequent updates. But customers today expect far more transparency: they want up-to-date information on how their money is invested, often using mobile phone or online interfaces. We help our clients to deliver this level of service.”

For all the emphasis on efficient information channels, wealth management remains a people-centric business. Hugh continues: “This is one of the main reasons why I joined Multrees two years ago. I knew many of the senior team here from previous roles, including the founder, Chris Fisher. I have a lot of respect for their capability and talent, and felt this would be a great team of people to work with.”

Hugh’s decision to join the company came after taking a year-long break from the corporate world, which saw him spend a month in the Outer Hebrides and travel to the Rockies and Patagonia.

“This was an opportunity for both myself and my wife to focus on what we wanted to do after an intensive executive career. The opportunity to join Multrees as a non-executive director felt like the right role at the right time for me.

“I hope my experience and expertise will help Multrees continue to develop and grow as a successful business.”