Living Time managing director of sales and marketing Dave Harris has left followng the firm’s distribution deal with MetLife.
The deal, revealed by Money Marketing last month, will see MetLife exclusively distributing Living Time’s fixed-rate annuity product and Harris (pictured) says leaving was the logical step.
He says: “The deal means there is not much more for me to do. My role was primarily marketing and distribution so now MetLife are doing that my role shrinks and myself and the board decided it would be best for me to move on.”
Last month, Living Time accounts revealed the firm would receive a £450,000 loan from Alico by February 28 in an effort to address liabilities of £257,000. The firm has also implemented a “wide-ranging cost reduction programme”, with staff costs cut by 50 per cent.
Harris says some staff have transferred to MetLife, while seven joined MGM Advantage in January.