As tipped by Money Marketing last month, Charcol has confirmed that chief executive Ian Kennedy has left the firm.
Finance director Nigel Ward has also been made redundant.
The restructure of the broker business will see 39 people made redundant, with a further 30 staff leaving as a result of a programme of performance management in the sales divisions over the last month.
Charcol has closed offices in Birmingham, Guildford and Manchester. A spokesman refuses to rule out any further job reductions and office closures.
This comes after Charcol’s private-equity shareholder Advantage Capital sold its 15 per cent stake to the company’s founders in May for an undisclosed sum after a sale of the broker was ruled out.
Money Marketing revealed in March that directors John Garfield, Charles Wishart and Jon Moulton had paid £1.5m to plug a hole in the broker’s accounts at the start of the year after auditor KPMG warned of the “material uncertainty” of the broker firm continuing as a going concern.
Garfield says: “John Charcol will continue to take whatever actions are necessary to meet these objectives.”