Jim Reeve, managing director of Zurich IFA Group, has resigned after 25 years with Zurich Financial Services.
It is believed that Reeve will soon be taking up a position at Barclays although it is not clear what his role will be and neither Zurich nor Barclays would comment on his move.
If he does take up the position, Reeve will follow in the footsteps of former Zurich UK life chief executive Ray Greenshields, who joined Barclays as managing director of its investment division last May. Reeve had been Zifa MD since August 2001, when he took over from Jerry Grayburn.
After his appointment as MD in 2001, Reeve lashed out at providers who were anticipating the outcome of the polarisation review by taking stakes in IFAs and buying them outright, saying this strategy was a waste of money.
ZFS spokesman Jon Atkins says: “Jim Reeve will be leaving ZFS. We are very sorry to be losing him.”