Scottish Provident head of sales Alistair Schofield is leaving the company after being usurped by Scottish Mutual rivals in the Abbey National takeover deal.
Schofield has been left without a role in the post-acquisition reorganisation.
He is widely credited with taking ScotProv to its current position as market leader in the sales of protection policies.
ScotProv UK chief executive Barry Rose will also be leaving the company.
Insiders suspect more key staff will leave rather than take up positions under ScotMut.
Current head of intermediary sales Duncan Forbes will replace Schofield in the new year.
Abbey-owned ScotMut's dominant role in the enlarged group was revealed in Money Marketing through a leaked email sent to Abbey employees on the morning that the £1.8bn takeover deal was announced.
The email said ScotMut chief executive Graham Pottinger would control the combined group and ScotMut head of sales John Campbell would head both sales teams.
Schofield says: “I am disappointed that it was made clear there was not a role for me in the new organisation. We have made a successful business but we are being taken over and they are the ones calling the shots.”