Peter Dunphy has sold the majority of his remaining shares in international recruitment group Dryden Human Capital Group.

Dunphy will also step down as CEO at the group which includes specialist insurance recruiter Darwin Rhodes and search firm Edison Morgan and specialist HR recruiter Personnel Development Recruitment.

Dunphy will stay on a part time basis as adviser and subsidiary director.

Alan Mackay, previously deputy group CEO and managing director of the Asia Pacific region takes the role of CEO.

The move comes as result of private equity funding from Calculus Capital and YFM Private Equity. The firm says the financial backing will support expansion of Darwin Rhodes organically and through acquisition, to other industries and geographies.