Axa Sipp head Nick Elphick departs in management restructure

Axa Wealth has restructured its management team in a post-budget move which sees specialist Sipp and onshore division head Nick Elphick depart the firm.

As part of the restructure Axa Elevate managing director David Thompson will take up the role of managing director of business development and proposition.

Elphick has been with Axa for 28 years.

Finance director Dave Cheeseman will now head up a commercial operations division and be in charge of IT, operations and finance.

Axa Wealth chief executive Mike Kellard says: “As a company we have always been responsive to change; we were big supporters of RDR, and we are very supportive of the pension overhaul announced by George Osborne in March, which I believe will make a huge difference to people’s lives.

”At last, a government is treating us all like adults, and giving us all real flexibility in how we choose to save for retirement and receive retirement income.”