Ex-Honister Capital chief executive Colman Moher has resigned as chief executive of Willis Owen.
Moher replaced Richard Pearson as Honister chief in April, which included the role as Willis Owen chief executive. Pearson joined Positive Solutions as chief operating officer in June.
Direct-to-consumer business Willis Owen was moved from Honister Capital Limited to a separate company, Honister Capital Holdings Limited, in October 2011 but Moher remained as the firm’s head.
Honister Capital Limited entered administration in July after failing to secure professional indemnity cover for its advisers.
A spokesman for Willis Owen says: “There is now no chief executive role at Willis Owen, and the firm is not looking to replace Colman Moher. There is a management team in place including Jason Chapman as the managing director.”
IQ Financial Advice director James Espin says: “I think maybe Moher is concerned about a backlash as Grant Thornton looks into the way Willis Owen was moved to a different part of Honister. It will be interesting to see if he ends up at Positive Solutions like other ex-Honister and Burns Anderson directors.”