Sources have confirmed to HELLO! that the pair have decided to call it quits, and reportedly took a break a month ago after having a serious discussion about their future together. A source close to the York family said: "They broke up a month ago. It was all mutual and very amicable. After ten years together, they needed to work out what they both wanted and have some space."
The couple ended their ten year relationship last month
They continued: "It could be that once they have had some time apart, they might decide to get back together. It's very clear they have the support of the Duchess and the whole family and they (the York family) are very open minded about what might happen in the long term. The Duchess is very fond of Dave."
Princess Beatrice's parents Prince Andrew and Sarah, Duchess of York and sister Princess Eugenie are reportedly "completely shocked" by the split, and Sarah was particularly upset as she considered Dave to be "part of the family." Another source told The Mail on Sunday: "[Sarah] is very sad it didn't work out. They have been together longer than many marriages last."
Princess Beatrice and Dave have remained friends following the split
The couple were last pictured together during happier times on holiday in Monaco back in June. The pair were spotted enjoying time with each other on a luxury yacht with a few friends, and looked to be in great spirits as they shared a few drinks. The 27-year-old has also been particularly supportive of Dave in the past year by travelling to live with him in the US while he pursued his career, and eventually found a job at a consultancy in New York.
The Princess and financier Dave were together for ten years after Prince William introduced them to each other at a birthday party back in 2006. Dave had been taking part in a study abroad programme at the University of Edinburgh while the Prince attended St. Andrews.