The changes reflect the recent appointment of Tim Fassam as director of government relations and policy and the body’s succession strategy. 

Mr Fassam will report to PIMFA chief executive Liz Field and lead the policy formulation team at PIMFA.

He will also lead PIMFA’s engagement with the Government on the UK’s future relationship with the EU and the profession’s needs in terms of future regulation.

From April, PIMFA director of regulation Ian Cornwall will move into a strategic advisory role in the run up to his retirement in October. He will continue to report into the chief executive and support Mr Fassam.

Mr Cornwall will continue to answer industry queries, conduct regulatory meetings and support  senior policy advisers and other team members prior to his retirement.

From May PIMFA deputy chief executive John Barrass will also take up a strategic advisory role reporting to the chief executive and provide insight into areas such as Brexit and retail markets policies.

Liz Field, chief executive of PIMFA, said: “We are very fortunate to have such expertise within the organisation and I am very pleased that both Ian and John have agreed to continue supporting us.

“This expertise is invaluable and I know appreciated by our members, stakeholders and the PIMFA team.”