Director general Chris Cummings is to leave the Association of Independent Financial Advisers (AIFA), the Association of Mortgage Intermediaries (AMI) and the Association of Finance Brokers to become chief executive of TheCityUK, a new body set up to promote the UK based financial services industry.

A process is now underway to appoint a replacement. An appointments committee, chaired by the Rt Hon. John Gummer, will be formed with representatives from the trade body’s membership.

Gummer said: “On behalf of all the membership I would like to thank Chris for the contribution he has made to the whole intermediary profession. His skills in negotiation