Marshall, who has been a director at Nemo since its inception in 2004, will be placed on a period of garden leave and will no longer be working from the Nemo premises.

Mortgage introducer understands that Marshall has decided to leave to pursue business opportunities elsewhere.

It is not known if Marshall will remain in the secured loan market at this time.

In a note to brokers seen by Mortgage Introducer Nemo managing director Phil Jones says: “It is with regret that I inform you that our commercial director Sam Marshall has resigned and will be leaving Nemo Personal Finance Limited and the Principality Group.

“Sam has decided to leave his current role to pursue business opportunities elsewhere.

“Sam will no longer be working from Nemo premises and will be placed on a period of garden leave. He is a founder director of Nemo and has been a director since its inception in December 2004. He and I have worked closely together for over 13 years.

“Sam has made a significant contribution to the long term success of the Nemo business and I would like to thank him for his achievements over the years. He leaves the business at a time when it is performing very strongly and is well placed to continue to do so.

“I will be taking a more active role in broker relationships and I hope to visit many of you over the next few months.

“If you have any queries that you would normally direct to Sam, you should raise them with me in the first instance. Simon Mules will report directly to me and will be able to deal with queries if I am unavailable.

“We are right in the middle of the month end again and our team at Nemo are doing everything possible to provide the quality service you are used to and hopefully deliver another strong lending performance.”

More to follow…