Heartwood chief executive Simon Lough is to step down from his role.
He will be replaced by Heartwood director Tracey Davidson, subject to regulatory approval.
Lough (pictured) said that he had taken the decision to step down one year since Heartwood was bought by Handelsbanken.
'I will be staying with the company my brother David founded, and I have helped to build. However, as we begin to draw more on technological and other support from Handelsbanken to deliver the service enhancements our clients are requesting, it makes sense that this work is led by someone with close working knowledge of both Heartwood and Handelsbanken.'
Davidson joined Handelsbanken in 2003 and more recently spent three years as head of the bank’s regional bank, Northern UK. She added: 'It is a privilege to take on this role, having been closely involved in the merger and, since then, working within the management team to start to realise Heartwood’s potential within the Handelsbanken group.'
Heartwood's management structure remains unchanged.