Simon New has resigned from his post as chief executive of Iress UK just four months after taking up the role.

Mortgage Strategy understands Iress UK staff have been informed of the resignation. It’s not clear why New has parted ways with the fintech firm.

New was named CEO in April as part of a major overhaul of Iress UK’s operating structure and senior management team. He stepped across from the role of chief commercial officer to lead the UK business, which was given greater autonomy to drive growth and innovation.

After his appointment to the newly created CEO role, New said: “The increased autonomy we are creating here gives us the agility and resources to move quickly and create far better outcomes for our clients.”

New had joined Iress in 2015 from Ernst & Young, where he was a director in wealth and asset management.

He has extensive financial services experience gained from senior management positions with Lloyds Bank and Capco, and as a management consultant.

Mortgage Strategy understands New’s deputy, Alex Hore, will step into the CEO role in an acting capacity.

When contacted, Iress UK declined to comment.