Alchemy's Martin departs

Alchemy Partners' John Martin has left after just 18 months with the firm, a period which saw the turnaround investor lose co-founder Jon Moulton.

Martin, who joined Alchemy as a partner just before the collapse of Lehman, will become the chief financial officer of building materials company Wolseley. He will, however, continue to sit on Alchemy's advisory board. 

Martin's departure comes shortly after it emerged that Alchemy plans not to invest in any new deals until 2011 and has put in place a longer term management fee model. 

Prior to Alchemy, Martin worked as CFO at foreign exchange company Travelex Group.