City AM has appointed former Independent business news editor David Hellier as its news editor.
Hellier is the latest in a series of editorial departures from The Independent business team.
Hellier had reportedly been on stress leave for the past month from the paper, and is understood to have reached a financial settlement which also binds him to secrecy.
Independent City editor Gary Parkinson also left last week after less than a year at the title and pharmaceuticals correspondent Julia Kollewe is also understood to be leaving the team.
The Independent declined to comment on the situation on its business desk.
Hellier starts at City AM in October and replaces Michael Glackin who has left the paper for "personal reasons".
Hellier was business news editor at The Independent for three and a half years, during which time the section won the Wincott award for best financial section of the year.
Hellier said: "I am excited about joining City AM, as I have been impressed with the tremendous impact the newspaper has made in its first year. There is already an excellent news team in place and my job will be to get the best from them and ensure City AM continues to bring in the best business scoops."
During a 22-year career in financial journalism, Hellier has also worked at the Evening Standard, the Daily Express and Sunday Express.