Replacing him, is City Financial chief executive Andrew Williams.

Rosengarten was heavily involved in the deal that combined Eden Financial with City Financial in October 2012, as well as having consolidated the firm’s new product offering.

City Financial announced the merger of the £12 million ($19.46 million) MultiManager Income fund with the £23 million ($37.2 million) Global Multi-Strategy fund, last month, subject to investor approval. With the departure of Rosengarten, the new combined Multi Asset Balanced fund will be managed by the firm’s head of multi-asset, Mark Harris.

“The City Financial investment management and sales teams are now fully integrated into the business and are delivering strong performance across the board. Having successfully completed this transition, Ed feels it is the right time to move on,” the firm said in a statement.

Prior to joining City Financial, Rosengarten spent 18 years at M&G including serving in the role as equities chief executive.

Since October 2012, City Financial has made a number of high profile hires and acquisitions and retail assets under management have grown to over £460 million ($745.89 million).