Perspective Financial Group managing director Damian Keeling has left the consolidator, Money Marketing understands.
Earlier this year, Money Marketing revealed Perspective was forced to defer payments to some of its acquired firms and that Paradigm and Bankhall founder Paul Hogarth had invested £2m into the group in the form of a loan. Perspective agreed with five advice firms it acquired to defer the payments owed under the acquisition terms.Perspective Financial Group managing director Damian Keeling has left the consolidator, Money Marketing understands.
Keeling has led Perspective since it launched in 2008 and pursued an aggressive acquisition strategy which saw the group buy up over 30 adviser firms.
In January, an update was posted on Companies House suggesting that Keeling had stepped down but this was dismissed by the firm at the time as an administrative error.
Perspective abandoned plans to raise £28m through a float on the Alternative Investment Market last August. It had planned to use the cash for operating capital, future acquisitions and to service a loan finance facility from Lloyds Bank.
It was also revealed in January that group operations director Peter Craddock and finance director Phil Carr had left the business. Craddock has since joined the FCA’s regulatory decisions committee.
Perspective declined to comment.