Rob Burgess, the £250,000-a-year head of Alliance Trust Savings and a board member of Alliance Trust, has stepped down with immediate effect.
There was no explanation from Alliance, and no indication from Mr Burgess that he is leaving to pursue other opportunities.
But a close observer of the business said there had been "a unanimous board decision" to instigate a search for someone who could lead ATS into the next stage of its growth.
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