Tim Lyle, managing director of Tenon Livingstone Guarantee (TLG), has left the mid-market corporate finance boutique after disagreements with the parent company, according to sources close to the group.

Tenon Group, a UK professional services company, acquired Livingstone Guarantee, where Lyle had worked for nine years, in 2001. Tenon bought several other UK corporate finance businesses at the same time. Barrie Pearson, founder of Livingstone Guarantee, then took on a part-time role and Lyle was promoted to run the combined corporate finance operations.