Gary Duggan, CEO of Paymentshield, is leaving his post to take up the position of managing director of Junction, BLG Group partnerships business.

He successor will be name made in due course, the insurance firm said.

Duggan (pictured) only become CEO on 30 June 2014, joining from Broker Network, a fellow Towergate business.

Alastair Lyons, interim executive chairman, said: “I would like to thank Gary for his contribution to Towergate. During his time with the business, he was instrumental in implementing a successful new strategy for Broker Network.

“Under his leadership of Paymentshield, the division has developed a new strategy, winning new insurers to the Paymentshield panel & driving customer retention rates to its highest level in seven years.”