The Association of Financial Mutuals (AFM) has announced the appointment of Andrew Whyte as its new chief executive.

Until recently Whyte (pictured) was director of communications at the Financial Conduct Authority. During his career, he has also worked across a number of different government departments and was head of corporate and public relations at the BBC for seven years.

Whyte will take up his new position from 1 January 2023. Once he has taken over full responsibility for running AFM, it is expected that the outgoing chief executive Martin Shaw will remain in a part-time, policy-focused role to support him.

Shaw has the led the AFM, the trade body for mutual insurers, friendly societies and not-for-profit healthcare providers in the UK and Ireland since it was formed in 2010. He informed the AFM Board of his plan to step down by April 2023 earlier this year.

Stuart Tragheim, CEO of Holloway Friendly and the chair of AFM, said: “The AFM board undertook an extensive recruitment process and was delighted with the calibre of candidates. Andrew stood out from the rest, through both his very relevant experience and his natural capacity to lead the trade association in an imaginative and empathetic way.

“The board look forward to working with Andrew on some of the key opportunities and challenges facing the sector currently, including the development of new legislation, and our calls for balanced regulation. We also plan to build on the recent positive work of AFM, to promote awareness of the benefits of mutuality, and to equip our people with the skills and knowledge to do their job effectively.”

Whyte added: “I am honoured to be appointed as chief executive of the AFM. The ethos of the mutual movement has never been more important than now – putting members’ interests above all else, giving consumers genuine choice and helping to promote a competitive and vibrant financial services industry. AFM has a vital role to play as an energetic and articulate advocate for the sector and I am incredibly excited by the opportunities ahead.

“But I know I have big shoes to fill. Martin Shaw has done a remarkable job leading the AFM, establishing it as the authoritative voice of the mutual sector at the same time as delivering a high-quality professional development and training programme. I am delighted that Martin will continue on with the AFM and I am looking forward to working with him and the board in taking the sector, and AFM, forward.”