Towergate Financial COO Dan Saulter to take over on 1 December

Towergate Financial chief executive Ian Darby has resigned.

He is now non-executive chairman of mortgage broker John Charcol, which Towergate Financial bought last February.

Current Towergate Financial chief operating officer Dan Saulter will take over from Darby on 1 December, subject to FSA approval.

Darby, who started as chief executive in 2008, said he always planned to resign from Towergate Financial once the firm started to turn a profit again.

“Having reached this milestone, it was always my intention that I would hand over the reins of the business which is in great shape, with a strong new business pipeline and led by a first class management team,” he added.