Skandia's group investment director Jim Roberts is to leave the company at the end of this month after a 26-year tenure.
Admitting that Skandia today is very different to the company he originally joined, Roberts said the recent buyout by Old Mutual had no influence on his decision to leave.
Stressing he has no plans to join another firm immediately, Roberts intends to take time out over the summer before reassessing his options in September.
No direct replacement has been named for Roberts, who is also chairman of Skandia Investment Management (IM) and holds board positions with Skandia Life Assurance, Skandia MultiFUNDS and Royal Skandia Life Assurance.
However, the group is to establish an asset management Division, under Skandia IM's CEO Jamie MacLeod, to bring together the fund group relationships of all its UK businesses.
Macleod, who will retain his CEO position at Skandia IM, will report to group CEO Nick Poyntz-Wright, while Tom Berger, CIO of the life company, and Richard Vincent, fund group relationship manager, will report to MacLeod.
Roberts joined Skandia in 1980 after a stint at Abbey Life and Schroder Life, becoming appointed actuary in 1984 and finance director in 1985.
In 1988 he was made developments director and has held his current position since 1992.
Roberts is Skandia's second long-serving employee to leave this year. In January, UK chairman Alan Wilson, who had also been with the firm for 26 years, gave up his post and has not been replaced.
The group's then head of sales Simon Burgess left at the end of March and was effectively replaced by Brett Williams, who became CEO of both Skandia MultiFUNDS and Selestia.