Commenting on his departure, Port (pictured) said he was leaving Nutmeg to “embark on a new challenge”, however, details of this are yet to be revealed.
Port said in a statement: “I joined Nutmeg in 2012 to democratise wealth management. I am leaving Nutmeg to embark on a new challenge. I am incredibly proud of what Nutmeg has achieved over the past seven years.”
Port joined Nutmeg in 2012 from BDO Investment Management, where he was also chief investment officer.
He started his career in 1992 at Crown Agents Investment Management before moving across to BDO in 2005.
Earlier this year, Port was named in ETF Stream’s 30 Index, which acknowledged the 30 most influential experts across the European ETF industry.
Port sits in the top 10 of this index alongside the likes of Solactive CEO Steffen Scheuble, Research Affiliates founder and chairman Rob Arnott and JP Morgan AM’s head of international ETFs Bryon Lake.
His departure comes just a week after Nutmeg reported widening losses last year due to a surge in costs from $17 million to £22.7m.
This was despite an increase in turnover and customers jumping to 85,000 by the end of last year, up from 50,000 at the end of 2017.