IntegraFin Holdings PLC (LON:IHP) announced that chief executive Ian Taylor will leave the investment platform company as it unveiled full-year results showing higher profits despite wider outflows.
The FTSE 250-listed group, which runs investment platform Transact, said Taylor will be replaced by current director Alex Scott in early March.
READ: IntegraFin ends its fiscal year with 14% higher funds under direction
Taylor will remain an executive director and, according to the house broker Peel Hunt, "focus on spending more time with clients and customers".
Scott, who has been at the company for a decade, is currently CEO of subsidiary Integrated Financial Arrangements Ltd (IFAL), a role that will be filled by Jonathan Gunby, currently chief development officer of that business.
Gross inflows dipped 4% to £5.7bn for the year to 30 September, the results showed, though funds under direction 14% higher at £37.8bn.
Profit before tax grew 18% to £56mln as revenues rose 9% to £99.2mln.
The company said the performance was achieved by keeping its business strategy unchanged against UK and global political turbulence, allowing Transact to continue gaining market share.
A 25% increase to the full-year dividend to 7.8p was proposed, representing a 64% payout ratio.
Broker Liberum said the results were broadly in line with its forecast, with operating costs below estimates, operating profit 6% ahead and earnings per share of 12.1p 9% ahead primarily as a result of a lower tax rate.
Shares dipped 3% to 443p on Wednesday at the opening bell.