The Wealth Management Association’s (WMA) chief executive Tim May is set to step down from the role later this year.
May will be replaced by Liz Field, who will assume the role in September this year.
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Over the past four years, May has been responsible for renaming WMA from the Association of Private Client Investment Managers and Stockbrokers and played a key role in establishing the organisation as the primary voice of the UK’s wealth management sector.
Prior to joining WMA, Field worked as CEO of the Financial and Legal Skills Partnership.
She was previously CEO of the Financial Services National Training Organisation, the Banks and Building Societies National Training Organisation, and the Insurance Industry Training Council; trade associations that focus on skills, and as head of organisational development at Gerrard.
Tim Ingram, chairman of Wealth Management Association, said: "Tim has done a fantastic job leading the WMA over the last four years, taking the organisation through a period of significant change, and we are sorry that he has decided to step down."
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By GlobalData"Liz brings many years of experience in leading trade organisations, championing the work of sectors in the financial services area, together with a good knowledge of wealth management having worked at Gerrard," he added.
Tim May said: "After four years of endeavour, backed by a great team of staff, I’m looking forward to assisting Liz up to our Annual Conference on 6th October 2014."
Liz Field said: "Businesses operating in the wealth management sector are facing many challenges both in the UK and in the international market place. The wealth management industry makes an important and very valuable contribution to the British economy, and I look forward to working with the Board and the WMA team to help drive sustainable growth."
