CML chairman Colin Walsh to leave

Colin Walsh, chairman of the Council of Mortgage Lenders (CML), is set to leave the organisation.

Walsh, also managing director of mortgages at Lloyds Banking Group, plans to leave in a few months' time to explore "other opportunities."

His departure date has not been confirmed, but Walsh said it was his decision and that the "timing was right."

"Lloyds is a great business and the mortgage sector would continue to do great things to support the housing market. I will continue to work on the intermediary side and the Scottish Widows integration programme for the time being," he said.

Walsh will also have to step back from his chairmanship of the CML when he leaves LBG and support an "orderly transition."

The chairmanship is likely to go to one of the current deputies, Vim Maru, the newly appointed managing director of products at Lloyds or Martijn van der Heijden, head of mortgages at HSBC.

"The deputies are an obvious first port of call," said a CML spokesperson.

On 1 June, Antonio Lorenzo, Lloyd's director of wealth and international, announced two new roles, including a managing director of products, including mortgages, and a director of intermediaries.

Vim Maru, joined from Santander on 6 June to take the product role and for an undisclosed period, Colin Walsh has been appointed interim director of intermediaries.

A Lloyds spokesperson, said: "Walsh has agreed to support the transition to the new business model and the strategy development of the new intermediary business."

Lloyds said the new intermediary role, which spans the retail business taking in wealth and mortgages aims to "deepen" the Group's relationships with intermediaries and ensure consistency.