DWF has revealed that Nigel Knowles (pictured above, left) will retire as group chief executive officer on August 1, 2025.
Knowles will remain with the firm in a senior advisory capacity, focusing on client engagement and business development.
The firm’s board of directors has appointed Matthew Doughty (pictured above, right), currently CEO of DWF’s Insurance Services division, as CEO-elect. He will assume the group leadership role on the same date.
Knowles became CEO in May 2020. Over his five-year tenure, DWF reported an increase in revenue of approximately 60%, equivalent to more than £175 million, and a more than threefold rise in profitability. In 2023, he led the company through a transition from public to private ownership following a take-private transaction with investment firm Inflexion.
In a statement, Knowles said the decision to step down follows through on a commitment made during the firm’s change in ownership. He said the firm’s recent performance reflects the work of its staff and continued relationships. He added that the timing of the transition aligns with the completion of five years in the role, and expressed support for his successor, citing their close working relationship over several years.
Meanwhile, group chair Steve Varley said the board unanimously supported Doughty’s appointment following a succession planning process. He said Doughty’s experience across DWF’s insurance and commercial services divisions, as well as his group-level leadership roles, positions him to lead the firm through its next phase.
Doughty joined DWF in 2016 as a partner in the corporate services practice. He has held several senior roles, including chief operating officer and chief strategy officer, before becoming CEO of insurance services in 2023. In that role, he oversaw growth through international expansion and panel appointments with global insurers.
Commenting on the move, Doughty said the business is in a strong position, with growth in the UK and internationally, and ongoing support from investor Inflexion. He said he looks forward to continuing to build on the firm’s strategy and acknowledged Knowles’ ongoing role during the transition.
Doughty will retain oversight of the insurance services division, working alongside senior partner David Abbott.
