Gay will also become director general of the AMI and Association of Finance Brokers (AFB).
He has more than 25 years’ experience of the life and pensions market and intermediary distribution.
While at Aviva, Gay developed and launched the industry’s first financial adviser academy. He also led Aviva’s work around the RDR. He previously worked for Prudential and Standard Life.
Lord Deben, chairman of AIFA, AMI and AFB, said: “Stephen has an excellent understanding of the challenges and opportunities faced by advisers, including the tough economic climate and the ever changing regulatory agenda.
“His experience will be vital to promote and protect our members. In AIFA, the IFA profession has a strong, united organisation that stands up for their interests.
“Stephen is well placed to lead our work and build on the significant contribution made by Chris Cummings and his team.”
Stephen Gay said: “There is a fantastic opportunity here to build on AIFA’s successes and to take the organisation forward through this transformational period for the industry. I am delighted that I have been selected to lead AIFA, AMI and AFB.
“All three organisations are now firmly at the heart of political, regulatory and policy discussions. I look forward to representing members’ interests at such a critical time.”
A start date for Stephen is still being agreed, but Cummings’ last day will be Thursday, 9 September.
