Rose quits retail services

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Potter was a high-profile hire for Rose at a time when it was exploring an aggressive strategy of expansion into new businesses. He was chairman and chief executive of Guinness Mahon and, most recently before joining the search firm, was deputy chairman of Investec Bank (UK).

Rose Partnership founder Philippa Rose said: 'We decided that retail financial services was a very difficult market to break into and realised that it would take years for us to build the relationships needed. The way you have to search for these positions requires a different methodology from the ones we use for the rest of our financial services search.'

Potter is currently doing consultancy work for a company called clearmoney.com, which provides electronic bill presentment and payment services for clearing banks.

He said that he and Rose, who have known each other for 20 years, remain on good terms.

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