An executive search firm will assist in finding a full-time investment based CEO and upon an appointment the pair will step down to pursue other interests.
Witan’s board says the restructure is designed to help increase the investment resource available to the company, while keeping costs down.
Clarke was appointed to the board as CEO to explore business development opportunities and to manage the overall business.
Lynam was appointed CIO on a part-time basis to take responsibility for investment policy, manager selection and monitoring.
The pair have worked closely together in conjunction with the board to manage all aspects of its affairs.
A statement from the board says: “The board would like to thank both Robert and Mark for their contributions and hard work in successfully managing the Company over the past 12 months.”