Benson Hersch has announced he will step down as chief executive of the Association of Short-Term Lenders by September this year.
Hersch has headed the ASTL since 2012, after joining from short-term lender Cheval, where he worked as a director since the late nineties.
According to the body, he will help in finding his successor before his departure.
Hersch says: “Unfortunately, nothing is forever, and I feel that now is the time to hand over to someone.
“I would like to take this opportunity to thank all board members, past and present; as well as all the members for their assistance in making the past seven years an extremely pleasant experience.
“I also want to thank our administrator, Kay Woolley, for her invaluable experience.”
Executive committee member James Bloom comments: “On behalf of the directors, we would like to formally place on record our enormous thanks to Benson for his many years of hard work and dedication to the ASTL.
“Finding his replacement will not be easy but the search will start in earnest. We look forward to the appointment of a new chief executive to continue the positive momentum and growth of the ASTL.”