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AIFA director general Stephen Gay is to leave the Association of Independent Financial Advisers (AIFA) to become director of life, savings and protection at the Association of British Insurers (ABI).
Gay joined the trade body in September 2010, taking over from Chris Cummings, having previously worked for Prudential, Standard Life and Aviva.
A spokesman for AIFA said the date of his departure had not yet been resolved but confirmed the process was underway to find a successor.
Gay said: "I am proud of the work that AIFA and AMI do for their members and what we have achieved during the past year.
"I am also extremely grateful for the support shown by our council and boards, and the dedication of all the staff at the organisation during what has been a difficult year for advisers."
In July, AIFA came under criticism from IFAs after announcing plans to accept restricted members in the wake of the retail distribution review.
The financial strain it has been under was recently revealed when it posted a deficit approaching £200,000 in the 12 months to 30 June 2011, despite putting cost cutting measures in place.
The announcement of Gay's departure comes just two days after the organisation named its new policy director, Chris Hannant.
More to follow.
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| Comment | Shock as Stephen Gay quits AIFA for ABI |
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What a Turncoat
Oh look, Mr Gay has had "better offer" from his old mob to represent the side with the most to gain and more influence - what a turncoat, this is why I left AIFA last year - waste of time !! He must have realised that the FSA totally ignore AIFA and that he was wasting his time.
Posted by: Dennis B
Change the World
Last Year he was going to change the world for IFA's This year he has changed his job for himself. Says it all really. Glad I don't pay them a fee.
Posted by: Swanny
Tits on a Fish !
He's been about as much use AS the proverbial Tits on a fish! There's more lurkers in this industry than enough. Probably working his way towards a position in Canary Wharf!
Posted by: Peter Taylor
By Bye Stephen
Bring back Garry Heath!
Posted by: Green Eyed Monster
Why the Sudden...
Mr Gay needs to carry the management along inorder not to dísorganised the operations of the organisation
Posted by: Ajisegiri Akinyemi Gabriel
Why the Sudden...
Mr Gay needs to carry the management along inorder not to dísorganised the operations of the organisation
Posted by: Ajisegiri Akinyemi Gabriel
Be fair
Be fair - this man was handed a poisoned challice. Good luck to you Stephen - there is no way you can be blamed for the mess you inherited. Your predecessor has a lot to answer for.
Posted by: C Hogarth
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That was quick...!!!
Why the sudden move ?
Posted by: Former IFA