More movement has occurred within the senior ranks of troubled financial services group Allco, with the resignation of Gregory Woolley, a non-executive director of Allco Equity Partners.

In recent months, a series of structural changes have been announced by the private equity investment company and its key stakeholder, Allco Finance Group.

In a letter to shareholders dated April 17, 2008, Allco Finance Group announced that its business model and strategy had been “severely impacted by a rapid and largely unanticipated crisis in global credit markets”.