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Exclusive – Black expected to leave Towry Law

Towry Law chief executive Douglas Black is expected to leave the National IFA soon.

The IFA&#39s Australian owner AMP says it cannot comment on market speculation.

Black led the negotiations with AMP and the Investors Compensation Scheme leading up to Towry&#39s purchase by AMP in June in a deal worth £75.7m as exclusively predicted in Money Marketing.

The deal saw the ICS put up more than £30m towards the £48m pensions review liability which Towry inherited when it bought IFA Advizas from Hogg Robinson.

At the time, Black said the deal was a good one for the industry as a whole, which provoked criticism from some other IFAs.

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