Fund Advisers, an independent financial consultancy with global operations, has announced the departure of its Managing Director Spencer Lodge.

Fund Advisers said: “After setting up the business and enjoying incredible success, culminating with 50% growth in the last year alone, Mr Lodge will depart”.

The management of the company will be handed to Danielle Suchley, who the company describes as Lodge’s “protégé”, and the rest of the management team.

Fund Advisers added it had always been the long term strategy for Lodge to leave and hand his responsibilities over to the management team.

Commenting on his departure, Spencer said: “My plan from the beginning was always to set up a business on firm foundations and then hand over the reins to a focused, dedicated and talented leadership team who could take it to a new level. My own history is filled with startups.”

“I have opened and developed financial services businesses in many countries across the world, and I enjoy laying the groundwork for these ventures immensely – especially in the case of Fund Advisers. Now the time has come for me to move on and focus on new projects, and I am convinced that the team, headed up by Danielle, will do great things in 2015 and beyond,” he added.

Fund Advisers has grown significantly in recent years.

The business now boasts 80 members of staff across Dubai, South Africa and Russia.