CML director general Paul Smee has confirmed he will depart from the Council of Mortgage Lenders at “an appropriate moment” after it merges into UK Finance.
Smee said: “I will be moving on at an appropriate moment after the formation of UK Finance. I want the new body to land well.”
Smee was speculated to be leaving as early as March, when Sky News reported him telling colleagues he doesn’t want to be part of the new trade association.
He was in Wales today talking up the “mortgage voice” that will be in UK Finance, which is being headed by chief executive Stephen Jones and chairman Bob Wigley.
UK Finance is expected to launch in July.
Before joining the Council of Mortgage Lenders in 2011 Smee was chief executive of the Payments Council, chief executive of APACS Admin and director general of the Association of Independent Financial Advisers.