Tilney Smith & Williamson adds to leadership team with CTO appointment

Tilney Smith & Williamson has appointed Mayank Prakash as Chief Technology Officer and a member of the Group Executive Committee. 

Tilney Smith & Williamson is a UK wealth management and professional services group, created by the merger of Tilney and Smith & Williamson on 1 September 2020. The group is responsible for GBP47 billion of client assets under management (AUM) and ranks as the UK’s third largest wealth manager by revenues and the sixth largest UK professional services firm measured by fee income.

Prakash has an impressive track record leading teams and implementing large-scale digital transformation programmes across both the private and public sector. He will join Tilney Smith & Williamson from FTSE 100 utilities group Centrica where he has served as Chief Consumer Digital & Information Officer and led teams to deliver customer experience improvements leading to increase in digital interaction across 14 brands.

Prior to this, Prakash was Chief Digital & Information Officer at the UK Department of Work & Pensions (DWP), where he was responsible for the UK’s biggest IT and Operations estate and carried responsibility for scaling digital services for 13 million people. During his time at the DWP, he was named the most influential person in UK information technology in Computer Weekly’s annual UKtech50 rankings for 2017. Mayank has also held a number of other senior management positions, including at Morgan Stanley Wealth and Asset Management and Sage Group.

Chris Woodhouse, Group Chief Executive at Tilney Smith & Williamson, says: “As we have been working towards completing the merger, we have recognised the importance of investing in additional talent to strengthen the leadership team and help us achieve our ambitious plans for the business. Mayank will bring a huge amount of experience to the senior team and we are delighted to welcome such a high-calibre technology and operations leader to the business. Both Tilney and Smith & Williamson have invested heavily in new systems in recent years, enabling us to improve client experience and operational resilience. Mayank will have a key role to play ensuring a successful integration of the two businesses and driving new digital development and innovation to continually improve the services we provide to clients.”

Prakash adds: “This is a really exciting time to be joining the business. The merger of Tilney and Smith & Williamson is a transformational combination which will create a truly unique business able to support clients with a wide range of services to facilitate the management of their personal wealth and their business interests. While the sectors it operates in have overall been slow to adapt to the opportunities that new technology provides, both Tilney and Smith & Williamson have made major investments in new systems in recent years. I have been really impressed with the determination of the new Group to embrace best-in-class technology and be at the forefront of digital innovation to the benefit of clients.”