"Genie and I have decided that it is best for us to end our player-coach relationship and to move in different directions for 2015," Saviano said in a press release posted on his tennis academy's website.
Saviano, who has coached Bouchard for the last eight years, gave no reason for the split in the release.
Bouchard, the rising star from Westmount, Que., reached at least the semifinals of three of four Grand Slam tournaments this season, including an appearance in the Wimbledon final.
She reached as high as No. 5 in the WTA rankings, qualified for the year-end championship tournament in Singapore and was named the tour's most improved player.
"This past year travelling with Genie to all of the majors has been a wonderful experience with memories I will cherish for a lifetime," Saviano said.
"I have no doubt that Genie will accomplish great things."
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