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Martin Davis to leave Cofunds

Martin Davis MM blog

Cofunds chief executive Martin Davis is to leave the business, Money Marketing understands.

Davis leaves in the aftermath of the firm’s acquisition by Legal & General.

Money Marketing understands he will be replaced by L&G managing director banks and building society partnerships Chris Last.

Legal & General acquired the 75 per cent of Cofunds it did not already own in March for £131m, following months of negotiation between the businesses.

Davis joined Cofunds as chief executive in April 2011 having left multi-tied network Openwork to join the platform.

Last month, Money Marketing revealed Cofunds managing director of operational services Stephen Mohan had quit to join Allfunds UK.

Cofunds declined to comment.

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Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. Now folks what does this tell you? This is the highest profile defection, but there have been other key players who have abandoned this sinking ship. And who have they put in place? An L&G apparatchik. Well I don’t want to pre-judge, but if this presages the usual L&G culture and lack of service I for one will be transferring client assets even quicker than I am at present.

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