The proprietor of Chase UK was appointed managing director of Freehold in November following his stepping down as chief executive of Chase UK in October.
However, in November he was also appointed as part-time consultant for edeus which mutated into his present role as director of packaging in February.
Some sources say that lenders doing business with Freehold have been concerned that Pritchard’s involvement with both the association and edeus constituted a conflict of interests.
But Pritchard says: “I have en-joyed my job but my other consultancy commitments take up too much time for me to get as involved as I would like.
“I took the position until such time as we were strong enough to afford someone with the right attributes, and now we are.”
He adds: “I will assist in finding the right person to take the managing director’s position on a long term basis, and I will also be part of the committee selection process for new members.”
Shaun Vickery, managing director of The Select Partnership and chairman of Freehold, says: “The appointments we made in November contributed to the association but we are now fully funded and Pritchard made it clear he didn’t want the job in the longer term.
“We now need to get the right person on board to replace him as soon as possible.”
Paul Brett, the former principal of Freehold and a member of the steering committee, has also given up his involvement with Freehold to concentrate on the association’s lender FML.
He says that an increasing workload meant it was the right time to stand down.