Paul Smee Director General, at the Council of Mortgage Lenders (CML) will leave his post after the UK Finance merger takes place. 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.”

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.