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Ian Parsons and David Wallace are understood to be pursuing unspecified ventures outside the regulated financial services environment. Members of the group, which recently returned a profit for the first time in six years, have been informed by email of the changes. On an interim basis, marketing director Mike Hughes has been appointed chief executive and Chris Blakeley becomes director of regulatory risk. Peter Coleman remains as finance director. Hughes says Parsons and Wallace were not forced out by shareholders. Last year, business development director and shareholder John Hayden joined Berkeley Independent Advisers. In February 2002, Burns Anderson founder Steve Kelland, of Kelland & Partners, handed over the role of chief executive to Jim Gaskin, staying on initially as chairman. Gaskin oversaw a cash injection into the company of 500,000 from Norwich Union but left three months later. Parsons was appointed as chief executive in November 2002 and Kelland stepped down from the board. Kelland is still one of the major shareholders in the company with an estimated 16.7 per cent share of the business. A number of life offices also hold minority stakes. Hughes says: “They both resigned, it is as simple as that. Ian Parsons joined the company four years ago. “He has a track record of turning around companies. He has done that here and he is now going to pursue other interests.” Parsons was unavailable for comment.