Investec's CEO Ciaran Whelan has joined the board of PIMFA, alongside Mike Morrow, chief commercial officer at Openwork.
Whelan has held various senior positions within the Investec group over the past 30 years. He sits on the Investec board as an executive director.
Before being appointed to his current roles in April 2020, Whelan was group chief operating officer, and prior to that he was group director of risk and global head of private banking. Between 2013 and 2015 he was CEO of Investec Bank Australia and prior to that, CEO of Investec Employee Benefits Limited.
Lord Deben, chairman of PIMFA, said: "I have no doubt that [Whelan and Morrow's] considerable experience and insights will help take PIMFA forward in a way that benefits our members and the profession overall.
"There were already many challenges and opportunities facing the wealth management and advice industry before the Covid-19 pandemic took hold. Many of those challenges and opportunities remain, and some have been amplified by the pandemic.
"Ciaran and Mike's experience will be invaluable in helping navigate a path that creates an industry that is fit for the future and benefits the financial and mental wellbeing of an ever-widening pool of consumers through the provision of professional advice for all."
Whelan and Morrow joined the board with effect from 1 February 2021. They will help inform the direction and strategy undertaken by PIMFA as it continues its push to provide 'Professional Advice for All' that want it and 'An Industry Fit for the Future' challenges and opportunities to come.
Whelan added: "I am delighted to be joining the PIMFA board at such a pivotal time for the advice profession. The wealth management and financial advice are vital sectors of the UK economy.
"This is a period of great change, not only in our industry but in society as a whole. Advances that many had thought would be some years away are taking place far more rapidly as a result of the Covid-19 pandemic, particularly when it comes to digitisation within the industry.
"The transfer of wealth through the generations, the growth of ESG investing, how the industry is regulated and how we provide advice to a wider group of investors, are among just some of the issues that we need to tackle.
"I look forward to working, alongside my colleagues on the PIMFA board, towards finding some of the solutions to these, and many other challenges."