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Nick Burns replaces Simmonds as Bluefin chief exec

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John Simmonds has been replaced as Bluefin Advisory Services chief executive by Bluefin Corporate Consulting managing director Nick Burns (pictured).

In a management restructure, Simmonds has been appointed executive chairman of Bluefin Corporate Consulting and Bluefin Wealth Management.

Simmonds will continue to have a hands on role at the firm with a  focus on strategy and brand development while Burns will also carry on in his role at Bluefin Corporate Consulting.

The changes have seen Axa non-executive director Ian Brimecome replace Tim Trotter as Bluefin non-executive chairman.

In October 2010, Bluefin Advisory Services announced a £62m writedown following the restructure of its private client arm. Adviser numbers were cut from 180 to 50.

In December, Bluefin announced that Former Thinc Destini shareholders will not receive their share of a £60m deferred payment from Axa after it failed to hit performance targets.

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