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.