His new position became effective on 1 January.

STEP is a global professional body with 21,000 members worldwide including many Financial Planners.

The membership includes lawyers, accountants, trustees and other practitioners helping families to plan for their futures using trusts.

Mr Pitcher said: “I am delighted and honoured to have been elected as worldwide chair. This represents the culmination of a career of service to STEP. I feel privileged to have been entrusted with the society’s highest office.

“I take on this role with the support of a very strong board, committed council, host of volunteers in regions, branches and committees and a wonderful team at STEP head office led by Mark Walley and his executive team.

“With this huge support I feel very confident that together we can build on the achievements of the last two years during Nancy Golding’s term of office. I would like to take this opportunity to thank Nancy for her leadership and mentoring during this time.

“During my term as chair I hope to lead STEP to deliver on the hugely important work to define the branch of the future and drive our EDI principles throughout our society.’

Mr Pitcher has been a member of STEP for 29 years and is a former branch chair of STEP Jersey and deputy chair of STEP. He currently serves on STEP’s worldwide board of directors and council and is a member of STEP’s Public Policy and Oversight of Conferences committees.

He qualified as a chartered accountant in 1986 and has worked for PwC, EY, RBC and Barclays Wealth before joining Altum Group in 2014. In addition to his role as chair of the Jersey board of Altum Group, he is a non-executive director of Jersey Finance.

STEP’s chief executive Mark Walley said: “I am delighted that Tony has been elected as our chair. He brings a wealth of knowledge and experience to the role. I know he will build on the great work Nancy has done to lead STEP into 2023 as we deliver our strategy.’

Mr Pitcher will lead STEP’s board of directors, responsible for the strategic direction of the society. Board members are elected by members of STEP’s worldwide council.