Sesame chief executive Patrick Gale is to quit next month after seven years at the firm.
Non-executive chairman Ivan Martin will take over running the business and the role of executive chairman.
Gale says, having seen the Friends Provident deal through, he is seeking a new challenge.
Martin was chief executive at Misys Banking Systems, standing down in 2005, and is understood to have been integral to the Friends’ negotiations.
Gale says: “I wanted to see through the transition to Friends Provident ownership to reassure our staff and customers and to ensure Sesame is placed to take advantage of future opportunities. That task is complete and after seven and a half years in charge, this feels like the right time for me to seek a new personal challenge.”
Martin says Sesame is ideally placed to help advisers respond to the RDR, with its financial strength since being bought by Friends. He says: “We all wish Patrick the very best for the future and he can be very proud of his legacy.”
Advanced Financial Consulting principal Jason Shearer says: “As long as they continue to move in the right direction, I have no issue with who is in charge.”