Simon Ray, chief operating officer (COO) at the wealth management group, resigned on Thursday and will step down on 31 December this year.
In a stock exchange announcement, the group thanked Ray for “his valued contribution to the company”.
His departure comes soon after group CEO John Morton stepped down in September following a leave of absence. He was succeeded by Marianne Ismail, who joined the firm as a non-executive director in December 2015.
Ray will continue to work with European Wealth as an independent contractor for its IT and systems, the firm said.
He first joined the firm in 2012 following its acquisition of Aventus Capital Management.
Losses at European Wealth deepened in the six months to June 2017, hitting £831,000 compared to losses of £523,000 in the same period the year before.
