AJ Bell said chief financial officer Peter Birch and chief technology officer Mo Tagari will assume Stott's FCA senior manager function responsibilities.

Chair Fiona Clutterbuck said: "On behalf of the board, I wish to thank Roger for his outstanding contribution to the board and the company over many years and wish him well for the future. During his time with the company, Roger has played a significant role in the success of the business."

As of 0930 BST, AJ Bell shares were up 0.35% at 434.50p.

Reporting by Iain Gilbert at Sharecast.com