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First Names Group appoints chief executive

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Trust, fund, real estate and corporate services provider First Names Group has promoted Mark Pesco (pictured) to chief executive officer, effective immediately.  

Pesco has taken up the reins as the group turns its attention to driving its organic growth strategy.
 
Pesco has been with the group for over 12 years and is already a key member of the group management committee. In his new role, he will head up the group management committee overseeing the day-to-day management and leadership of the business, incorporating its key service lines. He will take over from Cengiz Somay, who decided to step down as CEO in July.
 
A qualified Chartered Accountant, Pesco has worked internationally in Singapore, Melbourne and London. He returned to Jersey in 2004 to join the Langtry Trust Group and was appointed to partner within 12 months. In 2006, Pesco led the sale of Langtry to IFG Group and in 2008 he was appointed managing director for Jersey. In 2012, the international division of IFG Group underwent a management buyout and emerged as First Names Group. Since then he has enjoyed quick progression through the ranks most recently as group managing director, private client.
 
Pesco says: “After spending the majority of my career helping to build the business, I feel extremely privileged to now lead it. The progress we have made since the MBO in 2012 has been nothing short of exceptional and I am really looking forward to hitting the ground running in this new role as we continue to evolve and grow the business.”
 
Morgan Jubb, non-executive chairman, says: “First Names Group is full of extremely talented individuals and I am really pleased we were able to find our new CEO from within the existing leadership team. Mark is a strong leader with a passion for superior client service and has a deep understanding of our group DNA. He knows the business inside out and holds all the values we look for in a CEO.” 

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