Axa head of UK retail Simon Ellis is believed to be leaving the firm.
Framlington have refused to deny that Ellis, who has been with Axa for the past year and a half, has lost a power struggle with Framlington group sales and marketing director Nick Hodgson following Axa’s take-over of the fund manager earlier in the year.
Ellis’ rumoured departure follows that of Axa UK sales director Tony Maddock last week.
Following Maddock’s departure Ellis said: “This is nothing to do with the Framlington merger. Tony has been offered another position by another company which is effectively a promotion so he is off.”
Ellis was unavailable for comment this afternoon.