Skandia Investment Group's chief executive Nils Bolmstrand is stepping down from his role a year after taking the reins from Jamie MacLeod.
Bolmstrand will remain with the company but will be based in Stockholm working for the Skandia Nordic business as head of product.
The group says the move is for personal reasons, and will mean Bolmstrand has to travel less frequently.
Chief operating officer Mark Bulstrode will take over as acting CEO at the end of this year until a permanent replacement is appointed.
Bob Head, CEO of Old Mutual Wealth Management says: "Nils has played a key role in the formation and growth of SIG over the past few years and we respect his decision to return to Sweden.
"SIG has had a very good year. Its performance is better than ever and it has expanded its business internationally. Plans are already in place to build on that success in 2011 and we are already looking to extend its role even further in the future. This is the reason why we do not have to rush to make a permanent appointment."
Bolmstrand adds: "This has been a difficult decision but ultimately the right one. SIG is a great business that has a unique ability to be able to access some of the best fund managers in the world in order to build world class investment solutions for financial advisers and their customers.
"I will miss being at the heart of the business although I look forward to continuing to work with many of the team in my new role."
MacLeod left the group in September 2009 to move to wealth management boutique Berry Asset Management as CEO, handing his role to Bolmstrand, formerly chief executive of Skandia Fonder AB.
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