PIMFA, the trade association representing the wealth management, financial advice, and financial planning profession, has appointed Lord Tyrie as its new chairman.
The announcement comes as Lord Deben passes the chairmanship over after nine years at the helm. The Association says Lord Deben has played a pivotal role in taking the organisation forward following the amalgamation of WMA and APFA to create PIMFA.
Andrew Tyrie brings with him extensive experience, having played a significant role in reshaping many aspects of financial regulation over the past two decades.
PIMFA’s new chairman acted as MP for Chichester for twenty years from 1997 to 2017, alongside being chairman of the Parliamentary Commission on banking standards and also the Liaison Committee from 2015 to 2017. His parliamentary career has also seen him operate as the chairman of the Commons Treasury Select Committee from 2010 to 2017 and chair the Competition & Markets Authority from 2018 to 2020.
Andrew Tyrie, said: “I am honoured to be appointed chairman at a time when this vital industry is undergoing significant transformation. The challenges and opportunities ahead, shaped by regulatory, political, technological and economic change, demand strong leadership and a unified voice.
“I will work closely with our board, executive team, and member firms to champion excellence and advance meaningful policy dialogue to ensure that our industry can continue to deliver trusted, high quality advice and personal investment services that benefits both individuals, and the wider economy.”
Liz Field, chief executive of PIMFA, commented: “Firstly, I would like to offer my heartfelt thanks to Lord Deben for his dedication and huge contribution to the growth and development of PIMFA over the last nine years, his guidance and support have been invaluable.
"As we progress to the next era for PIMFA, I am delighted to welcome Lord Tyrie as our new chairman. His expertise, strategic vision and longstanding commitment to nurturing a fair and value driven industry will be instrumental as we continue to navigate an increasingly complex landscape.
“Andrew understands the challenges facing the industry but also the tremendous opportunities ahead for all sizes of firms. I greatly look forward to working closely with him to support our members, strengthen our advocacy work, and continue driving progress that will help build a thriving culture of financial health in the UK.”
