Six into one with new UK financial services trade association
No name yet for new trade association
Bob Wigley, the former chairman of the collapsed Yellow Pages, will be the chair of a new financial services trade association, which will bring together six member organisations across the UK.
It hasn’t got a name yet, but the new moniker and brand “will be decided in due course” and launched in the summer.
The new entity brings together the Asset Based Finance Association (ABFA), British Bankers’ Association (BBA), Council of Mortgage Lenders (CML), Financial Fraud Action UK (FFA UK), Payments UK and the UK Cards Association (UKCA).
The merger is an expansion of last year’s deal to bring together BBA, Payments UK, CML and UKCA.
Wigley was going to be First Global Trust Bank’s (FGTB) chairman, but the bank’s founders decided to withdraw the application, due to “the combination of a difficult and fast changing regulatory environment coupled with the difficulties of trying to innovate in the financial markets post the 2008 crisis”.
Wigley will start his new job on 1 March, and oversee the appointment of the chief executive of the new body and the integration of the existing trade associations later in 2017.
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