Financial services mutual Wesleyan Financial Services has appointed former FNZ CEO Paul McMahon to its board as a non-executive director.

Mr McMahon has over 40 years financial services industry experience in the UK.

He held senior executive positions at Zurich Financial Services, was managing director of AXA Sun Life, and CEO of platform engine company FNZ.

He founded his own advisory business in 2013 working with UK and European financial services companies in M&A, change management and digital transformation. He is also currently a member of the board of Ignition Advice UK Ltd and EBI portfolios.

Mr McMahon will also become chair of Wesleyan Unit Trust Managers, subject to regulatory approval.

He replaces Ian McCaig who will step down from the board at the end of May after five years as a non-executive director and chair of Wesleyan Unit Trust Managers.

Mr McMahon said: “This is an exciting time to join Wesleyan and I’ve been impressed by the clear and consistent vision for growth and the plans in place to underpin it.

“The business has huge potential to increase scale and profitability which, as a mutual, can then lead to greater value for members. I’m looking forward to bringing my skills to the table and playing a role in the next stage of Wesleyan’s long history.”

Nathan Moss, chair of Wesleyan, said Mr McMahon will play a key role in the development of a new digital platform for the firm.

He said: “Paul’s blend of skills and experience will be invaluable to Wesleyan as we enter the next stage of our strategy focused on delivering significant, sustainable growth. We want more doctors, dentists and educators to benefit from our trusted, specialist proposition and key to this will be the introduction of a new digital platform that will, when fully developed, transform how we meet the savings, investments and wealth needs of our customers.

“Paul’s experience in delivering successful business transformation and deploying innovative digital solutions will be a real asset to the Board and the business. We’re delighted to welcome him to Wesleyan.”

Wesleyan Financial Services provides specialist financial advice and solutions for doctors, dentists and teachers and was founded in Birmingham in 1841. The firm has £7.6bn of assets under advice.