The pair will take over from outgoing President Dorothy Hamilton MCSI who said: "Representing the CISI in Scotland has been a truly amazing experience."

Mr Gibson is the Institute’s first President from the Financial Planning community in Scotland. He is the managing director of Wells Gibson Limited, an independent and boutique, family-owned business in Dundee.

He said: “The decision for Shaid and I to assume the roles of co-Presidents for the next two years is an honour and a responsibility, and I relish the opportunity to contribute to the continued success of the CISI in Scotland.”

He said he hoped the role would allow him to leverage his knowledge and experience in the Financial Planning sector, while Mr Moughal would focus on strengthening the CISI’s relationships across operations, compliance and risk.

Mr Moughal is head of client assurance at Abrdn and has more than 25 years of experience in the institutional and retail sectors. He has been an industry commentator on the FCA’s client assets sourcebook (CASS) rules and was a founding member of the Scottish CASS Forum.

He said: “It’s a great honour to take over alongside Jonathan, who I know will be brilliant in engaging the Financial Planning sector. Together, we can add to the growth and momentum of CISI Scotland.

“I think this offers us a unique opportunity to focus on the major areas within Scotland’s financial sector and extend our reach even further, engaging more people and building on the successes of the excellent work that’s already been done.”

Outgoing committee President Dorothy Hamilton MCSI said: “The decision to opt for co-presidents this year is driven by our collective goal to continue to grow CISI Scotland even further. We believe that leveraging Jonathan's extensive experience and network within the Financial Planning sector will enable us to enhance our engagement with Financial Planners and wealth managers in Scotland.”

She said Mr Moughal will focus on strengthening the CISI's relationships across operations and compliance/risk.