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More changes at the top for Personal Touch in just 11 months

Mr Wright, chief executive of PTFS, said the departure came “with mutual agreement” following a significant change to the management structure of the network.

Citing “a drive for efficiency”, the chief executive said Mr White was leaving with immediate effect, and his role is not being replaced.

Another change involves Dave Edwards (pictured), former propositions manager, being appointed as head of member services and operations.

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The propositions team will now form part of the sales and marketing team under the leadership of David Carrington, marketing director, who joined last July.

This is the second time in 11 months that PTFS has announced a restructuring. Last October, PTFS announced 22 job losses and restructured its board of directors to achieve a 25 per cent cost saving.

At the time, the chief executive cited this as an attempt to realign the business and cut £1.5m in costs at the network.

Earlier in 2012, the former chief executive Doug Crawford, left in February, coinciding with two senior figures quitting PTFS: head of sales development Andy Walton and sales and marketing director Dev Malle.

This had also followed a board restructure, when John Ruddick, its director of IFA services, was made redundant.

Yesterday (3 September) the Financial Ombudsman Service revealed that PTFS has had 88 new complaints sent to Fos during the first six months of 2013.

Broken down, this included 25 complaints that related to mortgages; 37 relating to payment protection insurance and five for investments.