Clive Shelton Chartered FCSI will take over as the new chairman of TISA from Tony Solway, who completes his term of office on 30 June.

Mr Shelton is currently TISA’s deputy chairman.

He is a fellow of the Chartered Institute for Securities and Investment, Chairman of the Examinations Board, a branch President and Trustee of the CISI, and has served on a number of industry bodies, working groups and committees.

@CliveShelton Chartered FCSI presenting me with the @CISI 2016 Award for the Diploma In Investment Operations. pic.twitter.com/TpvXMXMZl0

— Gareth Hodson (@garethhodson) April 22, 2016

Mr Shelton also holds the position of director of International Financial Data Services (UK) and he is also a non-executive director of Unicorn Training Group.

After 14 years at the Bank of England Clive joined the M&G Group in 1987, becoming chief registrar in 1992, and following the acquisition of M&G by the Prudential Plc, an associate director in 2000 and director of compliance in 2001. He joined IFDS in 2003.

Mr Shelton said: “I already have first-hand experience of the exceptional work TISA does on behalf of our industry and TISA’s unique role in aligning consumer, industry and government interests to the benefit of all.

“I’m therefore delighted to be asked to lead the board as TISA enters the next phase in its development and particularly at a time when digital innovation is such an important part of the agenda.

“Tony Solway achieved much during his tenure and will be a hard act to follow. Fortunately for me he hands over an association with a recognised identity, a focused mission and committed management team.

“The pace and scale of change in personal savings, retirement provision and new technology is only going to increase and so TISA’s role at the heart of policy development and implementation is going to continue to grow in importance.”

TISA is well placed to meet the challenge, he added.

Mr Solway said: “This year TISA celebrates its 25th anniversary, it’s an understatement to say that our remit has grown significantly in that time. With our Savings and Investments Policy project we are now delivering thought leadership across many aspects of consumer’s investment and savings needs and helping to shape Government thinking.”