Opera Limited appoints new chair

Privately held financial services group Opera Limited has appointed The Rt Hon Dame Penny Mordaunt as chair of its board as the group enters the next phase of its growth strategy.

Dame Penny will lead the board and oversee its governance and strategic direction, including setting its agenda, supporting director independence and overseeing the group chief executive.

She brings extensive leadership and international experience following 14 years in Parliament, during which she held nine ministerial roles and four cabinet positions.

These included Secretary of State for Defence, Secretary of State for International Development, Paymaster General and, most recently, Lord President of the Council and Leader of the House of Commons.

She also previously served as the UK’s Governor at the World Bank.

Dame Penny said: “What attracted me to Opera was a serious long-term ambition, backed by owners prepared to build with patience. 

“Good governance gives that ambition discipline.

“It ensures difficult questions are asked early, decisions are tested and organisations remain accountable to the people they serve. 

I look forward to working with Kim and the board to help turn Opera’s ambition into meaningful outcomes for clients, colleagues and shareholders.” 

Opera brings together fiduciary, corporate and fund administration businesses, supporting them with strategic capital and operational expertise.

Dame Penny’s appointment comes as Opera progresses the next phase of Project Overture, with a focus on integration, delivery and long-term growth.

Stephen Lansdown CBE, Opera’s majority shareholder, added: “From the beginning, my ambition for Opera has been clear: to build a financial services group for the ambitions of the future.

“One that serves clients exceptionally well, invests in its people and, as it grows, raises the standard for the industry. 

“We are here to build something genuinely better and compete at the highest level.

“Long-term ambition needs more than patient capital. It needs strong governance, clear accountability and a board prepared to challenge the business. 

“Through her role as Chair of SubSea Craft, I have seen first-hand what Dame Penny brings to a board: strategic judgement, international perspective and the confidence to ask difficult questions.

“She has provided strong board leadership during a period of significant development, and those qualities will be a real asset to Opera as move into the next phase of our strategy.” 

Kim Sgarlata, group chief executive and executive director of Opera Limited, added: “We have brought together significant capability across Opera.

“Our focus now is to build on that strength, make the most of the expertise across our businesses and continue investing in our people, technology and client capabilities. 

“Dame Penny’s appointment comes at an important point in Project Overture.      

“She brings experience and judgement to the Opera Limited Board and will lead the board in providing strategic oversight, testing decisions and holding me accountable as group chief executive for delivery of the agreed strategy. 

“I look forward to working with Dame Penny as we move from acquisition into thoughtful integration, adapt as the needs of our clients and markets evolve and turn the ambition behind Project Overture into meaningful progress for our clients, colleagues and shareholders.” 

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