Sesame Bankhall Group chairman Ivan Martin has stepped down as a non-executive director of Avelo to avoid a potential conflict of interest.
Martin has stepped down because of Sesame’s deal with software provider Iress but will retain his equity stake in Avelo.
Sesame signed a strategic partnership with Iress in November in a deal which will see Sesame advisers use Iress’ front, middle and back office software programme Xplan.
Martin says: “I shall continue to support Avelo and will track its development with keen interest.”
Avelo managing director Chris Noblet says: “Ivan has served on the Avelo board since 2009 and has played a significant part in the development of Avelo’s market position. I would like to thank him for his valued contribution to the company during this time.”