Clare was chief executive of Citigate until February last year, when an internal shake-up saw him relinquish day-to-day control to become deputy chair of a new holding company named CDR Holdings and a senior client adviser at Citigate.
In an email to contacts, Clare said: 'Citigate is a wonderful business with some wonderful people and I am proud to have been associated with it for so long. I wish all my friends and colleagues good luck for the future as I look forward to a new career.'
He added that, once free of his 'contractual obligations' he is to take up a new unspecified appointment.
Clare was a financial journalist and commentator at The Times and Daily Mail before helping to establish Citigate in 1988. During his time at the agency he worked on deals such as Roman Abramovich's acquisition of Chelsea and HSBC's acquisition of Midland Bank.
Meanwhile, Citigate has hired BreakingViews' contributing editor Michael Preset to head its operations in the Middle East. It has also brought in Reena Mavjee and Lubna Ashraf to work in investor relations from Credit Agricole Cheuvreux and RBS respectively.