John Simmonds has been replaced as Bluefin Advisory Services chief executive by Bluefin Corporate Consulting managing director Nick Burns.
Simmonds becomes executive chairman of Bluefin Corporate Consulting and Bluefin Wealth Management. He will have a focus on strategy and brand development. Burns will also carry on in his role at Bluefin Corporate Consulting. Axa non-executive director Ian Brimecome replaces Tim Trotter as Bluefin non-executive chairman.
In October last year, Bluefin Advisory Services revealed a £62m writedown after the restructure of its private client arm. Adviser numbers were cut from 180 to 50. In December, Bluefin said former Thinc Destini shareholders will not get a share of a £60m deferred payment from Axa after it failed to hit performance targets.
Consillium Financial Planning managing director Kevin Morgan says: “These changes show it believes it can turn the business round.”