Top-level upheaval at Geller Family Office Services erupted again this week with the departure of Doug Banbury as chief operating officer, Family Wealth Report has learned.

Just three months ago, Geller parted ways with Jamie McLaughlin, who had been hired as chief executive officer in September 2009.

McLaughlin, who previously had been managing director and head of Convergent Wealth Advisors’ New York office, hired Banbury in February from UBS Financial Services, where he had been an executive director and head of funds services.

Through a statement from a spokesperson, Geller confirmed Banbury’s exit and said: “We wish him well in the future.”

Steve Fadem, chief operating officer of Geller Family Office Services’ parent company, Geller & Company, has been serving as interim chief executive of GFOS and  is “spending considerable time with the business,” according to the spokesperson.

“We have great confidence in the GFOS team and are recruiting additional client-facing professionals as we continue to grow the business. Aggressive searches are also underway for the CEO and COO positions and we hope to conclude both in the near future,” the firm said in the statement.

Despite the recent executive level turmoil and related questions that have been raised in the wealth management business, Geller said “GFOS’s client roster and revenues have continued to grow, and Geller’s commitment to the business is unwavering.”

To read the previous story about changes at Geller, click here.