The Chartered Insurance Institute Group (CII) has confirmed Alan Vallance will leave his position as chief executive in spring 2024 after joining in August 2022.
His tenure coincided with a turbulent time for the CII, including the CII’s controversial decision to takeover the Personal Finance Society (PFS) board at the end of last year.
The CII said this was due to significant governance failings within the PFS, a claim strongly denied by the PFS, and which led to a war of words between the two organisations.
Vallance (pictured) will join the Institute of Chartered Accountants in England and Wales (ICAEW) as CEO and is a qualified chartered accountant and long-standing fellow of the ICAEW.
He previously led the Royal Institute of British Architects.
CII group chairwoman Helen Phillips said: “The CII Group is sorry to see Alan leave, but we recognise his desire to take, what is, a unique opportunity to lead the chartered body of his own profession.
“The CII group board is grateful to Alan for the remarkable job he has done over his tenure, including leading the development and deployment of our new strategic plan. We look forward to identifying a successor to Alan soon to build on his strong legacy.”
Vallance added: “Leading the CII group has been a privilege. Building and maintaining public trust in the insurance, financial planning and mortgage advice professions is essential to every economy around the world, and I am honoured to have had the opportunity to lead a Royal Charter body containing two pre-eminent global professional membership organisations – the CII and PFS.
“The decision to leave was not easy, but I am confident that the group is now in a much stronger position. The foundations we have built since 2022 are a solid base on which the institute will continue to improve the way it serves its members, customers and the wider public for years to come.”
The CII group revealed it will shortly begin a process to identify a replacement CEO.
It published its five-year Strategic Plan in April 2023 and will publish its annual report and accounts at its AGM on 30 November 2023.