Cofunds managing director of operational services Stephen Mohan has quit after more than seven years with the firm.
Mohan, who has been with Cofunds since October 2005, has accepted another role within the industry although it has not yet been disclosed.
Cofunds says Mohan will leave the business later this year but will stay in the role until a suitable replacement is found.
Cofunds chief executive Martin Davis says: “We are sorry to see Stephen go but understand fully that after more than seven years with the business, he is keen to explore a new challenge.”
Mohan says: “I have thoroughly enjoyed my time at Cofunds, particularly being given the opportunity to drive operations and the delivery of our RDR programme, as well as grow the institutional service to the huge success it is today.”
Separately, Cofunds is bringing institutional and retail sales under the management of director of distribution Andy Coleman and head of business development Mark Hopcroft.
In March, Legal & General acquired the 75 per cent of Cofunds it did not already own for £131m, following months of negotiation between the businesses.
Cofunds says Mohan’s departure is unrelated to the L&G deal.