The Intermediary Mortgage Lenders Association (IMLA) has announced the election of a new Chair.
Phil Rickards will take up the role from January 1.
Deputy Chair since 2015, Rickards has also served as an IMLA director. He is currently head of BM Solutions at Lloyds Banking Group.
Rickards will succeed Kevin Purvey, head of intermediaries at Coventry Building Society.
The IMLA's latest AGM also saw Paragon Group's John Heron stand down from the board and Kate Davies will also begin her role as executive director in January, succeeding Peter Williams.
Phil Rickards, incoming IMLA Chair, comments: “I am looking forward to building on the fantastic contribution made by Kevin over the last two years, and collaborating with the rest of the board in this time of transition.”
“This is an exciting time for the industry, and IMLA has a vital role to play in supporting effective working relationships between lenders and brokers, while informing regulators and policymakers to ensure the market remains balanced and well-served for mainstream and specialist customers.”
Kate Davies, IMLA executive director, adds: “Phil will head up a strong team of experienced and newly-appointed IMLA directors, who are committed to the needs of our members within the ever-changing mortgage market.”
“I’m looking forward to working closely with IMLA directors throughout 2018 to play an active part in tackling key issues that will shape the market’s future.”