McCafferty originally took up the helm at the broker in August 2018, his departure was under mutual agreement

Brightside Group’s chief executive Brendan McCafferty will be departing the firm following Markerstudy buying the Bristol-based broker in March this year.

The rest of the senior leadership team are also tipped to follow McCafferty’s exit, as well as there being the possibility of a reduction in junior staff.

Ross Barrington, managing director – retail and affinity at Markerstudy Group said: “The departure of McCafferty from Brightside was under mutual agreement. We are currently undertaking a root and branch review of the structure, and the existing leadership team are supporting us with this, and will remain with us during the next few months to assist with integration activities.

”Moving forward, it’s my intention to maximise the synergies between the market and the Markerstudy Retail and Affinity operation, by providing best of breed products and brands across our portfolio.”

McCafferty started as chief executive for Brightside back in August 2018, taking over from Mark Cliff, who stepped down to become the business’s non-executive chairman.