Brett Williams, the chief executive officer of Cofunds, the UK-based independent investment platform, has stepped down with immediate effect, the firm’s board announced yesterday.

On an interim basis, Cofunds’ chairman Charlie Eppinger will take up the position of chief executive. The firm said that it is looking to recruit a permanent replacement.

Current board member Simon Davies, chairman of Threadneedle, the London-based asset manager, takes over from Eppinger as chairman.

The board said that it has thanked Williams for his work at Cofunds. During his time at CEO, the firm broke through the £25 billion (around $37.9 billion) assets barrier.

“Cofunds is in great shape; assets and revenue are growing, the company is firmly in profitable territory and is well on its way to cementing its position as the leading platform for financial planning in the UK,” said Eppinger.

In related news, earlier this week this publication reported that Cofunds hired four sales professionals (more here).