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Sesame chairman Ivan Martin quits Avelo board

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.”

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