PIMFA has announced the appointment of Lord Tyrie as the trade body’s new chairman.
He will follow Lord Deben into the position, who will pass the chairmanship over after nine years at the association’s helm.
PIMFA, the trade association representing the wealth management, financial advice, and financial planning profession, said that Lord Tyrie, a former Conservative MP, would guide the association’s strategic direction in support of its efforts, helping to ensure the concerns of the industry are effectively represented at the highest levels.
The trade body’s new chairman acted as MP for Chichester for 20 years between 1997 and 2017, alongside being chairman of the Parliamentary Commission on banking standards and on the Liaison Committee from 2015 to 2017.
His parliamentary career has also seen him operate as the chairman of the Commons Treasury Select Committee from 2010 to 2017, and chair of the Competition & Markets Authority from 2018 to 2020.
“I am honoured to be appointed chairman at a time when this vital industry is undergoing significant transformation,” Lord Tyrie said. “The challenges and opportunities ahead, shaped by regulatory, political, technological and economic change, demand strong leadership and a unified voice.
“I will work closely with our board, executive team, and member firms to champion excellence and advance meaningful policy dialogue to ensure that our industry can continue to deliver trusted, high quality advice and personal investment services that benefits both individuals, and the wider economy.”
PIMFA’s chief executive, Liz Field, added: “Firstly, I would like to offer my heartfelt thanks to Lord Deben for his dedication and huge contribution to the growth and development of PIMFA over the last nine years, his guidance and support have been invaluable.
“As we progress to the next era for PIMFA, I am delighted to welcome Lord Tyrie as our new chairman. His expertise, strategic vision and longstanding commitment to nurturing a fair and value driven industry will be instrumental as we continue to navigate an increasingly complex landscape.”
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