Two executive directors have resigned from Inter-Alliance in the aftermath of the collapsed merger negotiations between the national IFA and Berkeley Berry Birch.
Distribution director Phil Lockyer and technology director Mike Achilles, Inter-Alliance's longest-serving executive board member, left by mutual agreement last week. It is believed their departure was prompted by the composition of the post-merger board, on which they had not been allocated roles.
Inter-Alliance, which says it is still seeking consolidation partners, is left with five executive and two non-executive directors.
As Achilles and Lockyer performed roles which usually fall under the remit of directors with wider responsibilities, it is understood that they are unlikely to be replaced. Neither was available for comment.
Inter-Alliance, which says it should become cash-positive later this year, gave no reason for their departures.