Wigley will oversee the integration of existing trade associations this year, which encompasses 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).
He will also supervise the appointment of the organisation’s chief executive.
Wigley has extensive experience in the financial services industry, having held the role of chairman of Merrill Lynch between 2004 and 2009 while also serving as a member of the Senior Practitioner Committee of the Financial Services Authority during this time.
Wigley said: “I am honoured to be taking on this key role at such a critical time for the industry.
“Financial services make a considerable contribution to the UK economy and currently face a challenging environment. I aim to build a strong and effective body capable of speaking for the industry with one voice and working constructively with consumers, regulators and stakeholders.
“This new organisation aims to become an authoritative voice for the finance sector all around the UK, building on the expertise of its diverse membership. I look forward to leading and overseeing the new organisation and to meeting the challenges and significant opportunities that lie ahead.”