He will become chief executive of new home builder Platinum Homes, Riley says.
His new company operates through licensees in a similar model to the Mike Pero franchisee system, he says.
Riley wouldn't be drawn on his reasons for leaving or whether it has anything to do with the ownership dispute going on between the two Mike Pero shareholders, NZF Group and Liberty Financial.
"I've got my reasons but I will keep them to myself," Riley says.
Riley took on the Mike Pero job in September 2008 after leaving the chief executive role at Geneva Finance.
