The Investing and Saving Alliance (TISA) has appointed Tony Stenning as its new chair, following the departure of former chair Clive Shelton who stepped down in June.
Stenning spent 16 years at BlackRock where he was managing director and held a number of senior positions, including head of UK retail and head of retirement in EMEA, and has almost 30 years of experience in the investment industry.
Stenning has been involved with TISA for a number of years, joining the board in 2014 and becoming deputy chair in 2016.
In 2013, he chaired The Savings and Investment Policy Project (TSIP), a coalition of 50 firms, trade bodies and consumer groups, tasked with delivering policy proposals to improve consumer financial wellbeing.
Stenning commented: "I am really excited to have been appointed chair of TISA at what is a pivotal time for consumers. We are fast approaching a tipping point where a generation may retire less well off than the previous one, a phenomenon we haven't seen for almost 100 years.
"The industry, Government and regulators need to take action if we are to have a significant impact on the financial resilience of UK consumers. People are taking on ever more responsibility for their financial futures, but we know that 47 million Britons still have no access to financial advice.
"TISA has a key role to play in helping bridge this gap and our Vision 2025, to be unveiled at our conference in December, will set out how we intend to do so."
TISA's CEO David Dalton-Brown added: "Tony was the standout candidate to succeed Clive Shelton as TISA chair and I am delighted he has accepted the role. His passion for the benefits that our industry can bring to consumers is well known and respected by his peers and industry commentators alike.
"I look forward to working with Tony as we continue TISA's drive to improve consumer financial wellbeing and provide essential support services to our members."