A spokesman for Aldermore said that Snowdon had left “by mutual consent”. He joined the lender in January 2010.
Charles Haresnape, former group mortgage services director of estate agency firm Connells, has now been drafted in to take up the position of managing director of residential mortgages.
Aldermore has also created a new mortgages division that will be headed by deputy chief executive Mark Stephens, who now becomes group managing director of the division.
Prior to joining Connells, Haresnape was responsible for intermediary mortgages at both NatWest and RBS, and for the branch mortgage sales force within NatWest.
Haresnape said: “Joining Aldermore is a unique opportunity. As newcomers they are committed to meeting brokers’ demands for better service, with personal contact and the willingness to examine each mortgage application individually.
“Aldermore also has a clear advantage in that they do not have the restrictions on funding that some other lenders currently suffer from.”
Phillip Monks, chief executive of Aldermore, said: “Charles brings with him really valuable experience gained from both sides of the mortgage industry – from leading an intermediaries business and from heading up a major lender’s mortgage business.”
Aldermore said the new structure would help to increase the collaborative work between the two commercial and residential teams covering the mortgage markets.
Monks said: “We are very customer and service focused bank and Mark’s stewardship is going to help drive further improvements in that area. There are areas of the mortgage world, particularly the buy-to-let market, where having commercial and residential mortgages as separate teams is not the best approach.”