Sarah Davidson, 18 July, 2012

Ruddick was chief operating officer at the network from 2006 until June 2010 when he made made director of IFA services.

He had been with PTFS since 1998 as compliance director and as an IFA since 1994.

Walton joined the network in October 2010 to oversee the Personal Touchs team of 10 regional sales managers who were recruited by the company that year as part of a new business structure.

Dev Malle, sales and marketing director at Personal Touch, said: "We wish Andy well in any new challenge he takes on and on behalf of everyone at Personal Touch I would like to thank him for his hard work during his time here."

Walton, who could not be contacted for comment, is rumoured to have taken a position elsewhere in the mortgage market.

He was formerly a national account manager at Aegon and spent 12 years at Legal & General where he was a national account manager and broker consultant.

Ruddick could not be reached for comment either.

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Andy Walton and John Ruddick quit Personal Touch