Two prominent North East business founders are starting 2026 by embarking on new chapters, having announced their departures from the companies they launched and led for nearly twenty years.
Wealth Management Leader Launches New Venture
Lee Hartley has stepped down from his role as deputy chair of the Fairstone Group, a wealth management firm he founded. Mr Hartley had moved to the deputy chair position last year, having previously served as chief executive. He was succeeded as CEO by Steven Cooper in July 2025.
David Hickey, chairman of Fairstone, paid tribute to Mr Hartley's work. "I have known and worked with Lee for almost a decade," he said. "He is the most impressive business founder I have ever worked with, and the scale and continuing success of Fairstone is a lasting tribute to his abilities."
Mr Hartley's next move is already underway. In December 2025, he announced the launch of Castrius Capital Partners, a new private capital platform focused on the North East. The venture aims to bring £10bn of funding capacity to the region over the next decade.
Tech Founder Steps Aside After 19 Years
Meanwhile, in Newcastle's tech sector, Sarat Pediredla has announced his departure as CEO of digital product consultancy hedgehog lab. He founded the company in 2007, growing it from humble beginnings into an international firm with offices in the UK, US and India.
In a detailed LinkedIn post, Mr Pediredla reflected on his journey of almost 19 years. "I have reached the moment where it feels right to step aside and make space for the next chapter of leadership," he wrote. He stated he would step down as CEO immediately and support the business as an advisor for the next twelve months.
He described leaving with "immense gratitude, pride and joy" and is now "exploring new horizons". Mr Pediredla, who also serves as a non-executive director at Northumbria Healthcare NHS Foundation Trust and chair of Health Call, emphasised his intention to slow down and spend more time with his family before deciding on his next professional steps.
Legacies of Growth and New Beginnings
The simultaneous departures mark a significant shift for two of the North East's most notable home-grown businesses. Both founders leave behind substantial legacies: Fairstone as one of the largest wealth managers in the UK and Ireland, and hedgehog lab as a globally operating digital consultancy.
Their exits highlight a natural evolution in a business lifecycle, where founders pass the baton to new leadership to ensure continued growth. While Hartley moves directly into a new investment venture aimed at boosting the regional economy, Pediredla is taking a period for reflection, underscoring the different paths founders take after decades of building a company.
