The changes follow the successful completion of the £242m acquisition of SIPP and SSAS provider Curtis Banks last month.

Alex Kovach joined Nucleus from Interactive Investor in 2020.

He helped spearhead the growth of the business through the acquisition and integration of Nucleus Financial plc, growing sales through new client wins, and the repositioning of the combined group.

Mike Regan has been CFO of Nucleus since September 2022 and is an experienced board-level director.

His career track record includes experience in M&A, leading business transformation, understanding client needs and developing commercial teams. He remains CFO until the end of the current year, and the process to appoint a new CFO has started.

In another change, Peter Docherty, currently interim chief executive at Curtis Banks, will become the Nucleus group’s chief risk officer from 1 January, subject to regulatory approval.

Mr Docherty has more than 20 years of experience in financial services. After joining Curtis Banks in January he led the sale of the business to Nucleus. He was previously chief executive and managing director of Embark Platform and, before that, chief executive and chief risk officer of Alliance Trust Savings.

Richard Rowney, chief executive of Nucleus, said: “The completion of the Curtis Banks acquisition is an important milestone in our corporate journey, and accordingly the right time to look to the future and plan ahead.

“This is an exciting time in our development into a scale leader in this sector, and I’m pleased to be able to appoint Mike and Peter into these important roles as we continue to build the UK’s leading, independent, adviser platform group.”

Alex Kovach added: “With the acquisition of Curtis Banks complete, and after three and a half excellent years with the business, I’m following through on my intention to now move on.”