The Association of IFAs has announced its director-general is to be David Severn, currently head of retail investment policy at the FSA.
Severn will take up his position on February 1, 2005.
The AIFA executive will be restructured to reflect the special skills which each individual brings.
Fay Goddard will extend her role as director of policy to include mortgage advice.
Chris Cummings, currently director of the Association of Mortgage Intermediaries, is to take up the position of deputy director general AIFA.
He will be taking on a wider range of responsibilities, whilst retaining his special relationship with AMI.
John Gummer, chairman AIFA, says: “Fay Goddard will also become director of policy for the entire organisation. Her contribution to AIFAs development cannot be over-estimated. Chris has in a very short timeframe built AMI up to a point where it is universally recognised as the voice of mortgage intermediation. His skills will now be available to AIFA as a whole. Members will have a very strong team representing them in all areas and at all levels.”
Director of policy, Fay Goddard, who has been working alongside Paul Smee since AIFAs inception, will be acting director general until February 1.
Gummer adds: “We have been able to select our new director general from a very strong field. David is a significant recruit to the IFA cause, bringing with him much experience in regulatory and legislative matters that affect the environment in which IFAs operate.
“He will also be able to address the growing EU agenda for intermediaries. Fay Goddard, with her practitioner background, is ideally placed to see the Association through the transition.”