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Towry confirms Black is leaving

Towry Law has officially confirmed that chief executive Douglas Black is quitting the national IFA, first revealed on the Money Marketing web site last Friday.

Black will be replaced by AMP UK director of development John Simmonds who will occupy the role of managing director of Towry.

Simmonds was the key AMP figure involved in the negotiations over its purchase of Towry in June.

Both AMP and Towry Law say Black&#39s departure is not related to the negative coverage of the purchase which left the ICS picking up more than £30m of the £48m pensions liability Towry inherited when it bought IFA Advizas from Hogg Robinson.

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