Richard Stone, chief executive of The Share Centre, will leave the business on 18 September after 14 years at the firm to “pursue other interests and opportunities.”

He will hand over the reins to Interactive Investor’s chief executive Richard Wilson. Interactive Investor acquired The Share Centre in July.

Interactive investor, a flat fee investment platform, completed its takeover of its rival in the summer, creating a group with 570,000 customers.

The merged business has assets under administration of nearly £36bn and claims to be the UK’s 2nd largest direct to consumer investment platform and the biggest flat fee provider.

Interactive investor offers clients a flat-fee investment platform covering ISAs, SIPPs, Junior ISAs and general investing accounts. Customers pay a flat monthly fee regardless of size of investment. The Share Centre’s clients will have access to the same services and tariffs.

Mr Wilson said: “As an industry stalwart who exemplifies integrity and honesty, Richard Stone’s understanding and experience of the business have been greatly valued during ii’s acquisition and the initial integration planning. I am confident that the service-driven culture that he and his team have created, will help us integrate the businesses. 

“I would like to thank Richard for his dedication to the Share Centre and wish him the very best for the future.”

Mr Stone said: “It has been a real pleasure working at Share for over 14 years and leading the business since 2014. I am proud of the track record the business has of providing the highest quality services and of campaigning for the interests of personal investors. In leaving Share I will miss working with many exceptional people, all of whom are dedicated to serving personal investors.

“The deal with Interactive Investor undoubtedly remains the right next step for the business and for our customers. Scale will enable the business to face into the challenges of technology and regulation while continuing to offer customers high-quality, low-cost services.

“I have got to know the senior management at Interactive Investor well over recent years and am confident that the business has a bright future in their hands and know that they share the passion for serving the interests of personal investors. I would wish them, and all my colleagues, the very best for the future.”