Tenet chief executive Martin Greenwood is leaving the network after 19 years at the firm.
During his two-decades with the business, Greenwood helped build the network to the fourth-largest in the UK by CF30 numbers.
Greenwood, whose departure has been rumoured since the summer, will retire in Spring after an eight-year stint at the helm of the group, which offers both compliance and network services for wealth and mortgage advisers, but also operates its own advice company, Aspire Financial Management.
IT executive Mark Scanlon will replace Greenwood.
Scanlon is the current chief executive of technology and financial services provider, Personal Group.
Tenet says it is now looking to build its investments in IT and compliance delivery.
This follows major tech troubles for two of Tenet’s three major shareholders – Aegon and Aviva – during 2018.
A five-year strategic plan for Tenet including proposals for more investment in technology and expanded IT services, which has already been arranged under Greenwood.
Greenwood says: “It’s been a great privilege to work at Tenet.
“As I leave, the board and major shareholders have agreed the strategic plan for the next five years, which targets continued growth. The plan provides great clarity on the future direction of the group, including significant investment in IT and compliance delivery.
“However, I will be 70 by the end of those five years so have decided that now is the most appropriate time to hand over the reins. I am confident that the team, led by their new chief executive, will deliver on these future goals and I would like to thank them and the rest of Tenet’s staff and advisers for their support during my time at the helm.”
The group says Scanlon will bring experience building and diversifying large-scale businesses through use of digital technology.
He has held a number of executive positions at a variety of companies, including incident managers FMG, and electrical giant Dyson.