The founder of the investment platform AJ Bell is in line to make a paper fortune of £140 million or more from the upcoming flotation of the business.
Andy Bell, 52, chief executive, created the Manchester business 23 years ago with a friend, Nicholas Littlefair. It has grown from a provider of self-invested personal pensions into an investment business with over £40 billion of assets under management.
AJ Bell said yesterday it is planning to list 25 per cent of its shares. Analysts expect the business to be valued between £500 million and £700 million. That would value Mr Bell’s 28 per cent holding at between £140 million and £196 million. He plans to cut his stake from 28 per cent to 25 per cent…
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