The SimplyBiz Mortgages chief executive has been appointed following an election by board members of the trade body.
Reynolds was previously joint deputy chair with TMA’s David Copland.
LSL director of mortgage services, Copland will be joined by Gareth Herbert sales director of Mortgage Advice Bureau in the position as joint deputy chair.
Bunton stepped down from the board after leaving his role at London & Country last month.
AMI chief executive Robert Sinclair said: “I’m pleased to confirm the appointment of Martin Reynolds as new chairman of AMI. I look forward to working with him to further develop the great work we do on behalf of the intermediary community.”