Cofunds CEO Brett Williams has stepped down from his role with immediate effect.
Charlie Eppinger will return to the CEO role while the funds supermarket looks to recruit a permanent replacement for Williams (pictured).
Board member Simon Davies, chairman of Threadneedle, takes over from Eppinger as Cofunds chairman.
The Cofunds board has thanked Williams for his contribution to Cofunds and says that since joining in late 2008 Williams has played an important role in the business breaking through the £25bn AUA barrier.
Eppinger says: “Cofunds is a great company and has a strong management team already in place. The shareholders are keen to harness that strength and accelerate the pace of growth in the business to match the changes in the industry as a whole. The board recognises the need for continual investment and a real focus on serving our customers. We are committed to the success of the business and its continued independence.”