Leeds CEO Peter Hill becomes CML chairman
Leeds Building Society chief executive Peter Hill has been appointed chairman of the Council of Mortgage Lenders in 2016.
Hill is succeeding the Royal Bank of Scotland’s Moray McDonald who was CML chairman in 2015 as well as head of personal and business banking products at RBS.
Hill said: “We are set for another big year in the mortgage industry. The Mortgage Credit Directive takes effect from the end of March; the Financial Conduct Authority is embarking on an examination of competition in the mortgage market; significant tax and likely regulatory changes are being introduced in the buy-to-let sector.
“And we are determined to keep up momentum on our collaborative approaches to improve retirement lending and mortgage cost transparency; these have great potential to benefit both consumers and lenders.”
The CML is currently looking at a potential merger with other trade bodies as proposed by the Financial Trade Associations Review. Members will vote on the decision in the first quarter of 2016.
Hill added: “As incoming chairman, my dual aims for the year are to ensure that any organisational change does not detract or distract from our normal focus on services and representation in the short-term, and that any change is for the benefit of all CML members in the long-term.
“I am grateful to Moray McDonald for steering the CML through this landscape so far, being mindful of the needs of members of all sizes, types and different business interests.”