Following formal regulatory approval, Jonathan Dees has stepped into the role of our UK CEO, with Dave Ferguson moving into a new position as executive chair.
It’s a natural next step that builds on strong foundations – with Dave now focusing on growth, culture and strategy, and Jonathan leading Seccl’s day-to-day operations and delivery.
Jonathan’s no stranger to Seccl. He’s been interim MD since June and, before that, spent time seconded into the business to help scale operations. He also knows the Octopus ecosystem inside out, having spent six years as COO at Octopus Investments – with senior roles at Zoopla and TripAdvisor before that. It’s fair to say he knows what it takes to scale tech-first companies.
With both now officially in their new roles, we caught up with them to talk about the transition, the timing, and where they see Seccl heading next…
Looking back: the journey so far
As Jonathan steps into his role, Dave remembers his own first days leading Seccl. “It was the first time I’d joined a company with more than a handful of people since I was 21, and I found it way more intimidating than I’d anticipated. Everyone was like, ‘who’s this old Scottish prick?’ (definitely true). But we pulled together and achieved something special – winning four client firms from the largest incumbent and setting ourselves up to win over the next decade.”
Over the last few years, that small team has turned into what Dave calls “a materially relevant firm in our market – a credible contender to win over the next decade”.
For Dave, the leadership shift isn’t a reset, but a natural next step in Seccl’s ongoing evolution. “Ultimately, we wanted to optimise our chances of success,” he explains. “That means improving our talent depth and creating an organisation design where everyone can be doing what they’re best at, which tends to align with what they most enjoy.”
Right time, right place
Jonathan’s background in building and scaling product-first technology companies made the step into the CEO role at Seccl a natural fit. “My background’s in product-led companies – tech-first businesses focused on building the best possible product and finding the right solution for customers,” he says. “That mindset shapes how I approach Seccl. And through my time at Octopus, I’ve spent a couple of years digging into where the real value lies across its businesses – learning what drives success and how to unlock it. It feels like the right time to put that into practice here.”
He adds that the timing feels right, particularly given the scale of opportunity ahead. “It’s rare to have something with such a clear path to enormous growth. We’re a true tech-first, product-first company, and I think we’ll win because our product is the best. On top of that, the market itself is changing fast. Both the fintech and adviser sectors are shifting, and we’re well positioned to take advantage of that change. That’s what excites me most about stepping in now.”
A working partnership
Dave and Jonathan have known each other for some time and this familiarity has made the transition a smooth one.
“We’ve got complementary but different natural personalities,” Jonathan explains. “My bias is towards strategy, product and execution. Dave loves vision, growth and improving the industry. So, while we’ll each be involved in each other’s areas, we’re quite naturally programmed to think about different things, which means we can simply do more.”
Dave agrees. “Jonathan has a brilliant mind and is a wonderful human being,” he says. “I think we each have substantial respect for the role the other plays, and I’m excited to see how we can combine to deliver transformational success for our client firms, our people and our shareholders.”
What’s next for Seccl
Jonathan is clear about where his focus will be: building on the strong foundations in place to drive the next phase of Seccl’s growth. “The team has built something ahead of its time – a product that works for both the fintech and adviser markets,” he says. “Both markets are growing fast. Now I’m excited about shaping Seccl into something that’s head and shoulders above the rest.”
Dave shares that optimism. “Incumbent firms have become complacent and found various ways to limit their own opportunities,” he says. “I think we’re the only UK player with modern technology that’s genuinely scalable. We have substantial competitive advantage in operating a single code base across advised, non-advised and hybrid channels, and that should enable us to capture material market share regardless of how end-investors want to look after their wealth.”
Culture as a constant
For both leaders, culture remains central to Seccl’s success.
“The culture here is already strong,” Jonathan says. “People are passionate about making the product better and getting good customer outcomes. Seccl has made a real effort to hire high-calibre people who treat others well, and it shows. What I want to do now is retain all of that while making us even more product-centric, feedback-focused and value-driven. Long-term success will come down to how good the product is – and how well we focus on the areas that deliver the most value.”
Dave agrees, adding that Seccl’s culture has been key to reaching this point. “It feels like we’re homing in on a sweet spot that allows us to deliver at unprecedented pace while also operating with the substance you might expect of a much larger firm,” he says. “We’re well beyond the scrappier early days and into a mode that allows us to pitch for very large opportunities with real confidence in our ability to deliver.”
Looking ahead
When asked for one word to sum up the future and Seccl’s potential, Dave doesn’t hesitate: “Outrageous.”
For Jonathan, it’s “incredibly exciting. Two words, I know… and here’s two more: buckle up…”