The CII said it will shortly begin a process to find a replacement for Vallance.
Dr Helen Phillips, group board chairperson at the CII, said: “The CII group is sorry to see Alan leave, but we recognise his desire to take, what is, a unique opportunity to lead the chartered body of his own profession.
“The CII Group board is grateful to Alan for the remarkable job he has done over his tenure, including leading the development and deployment of our new strategic plan.
“We look forward to identifying a successor to Alan soon to build on his strong legacy.”
Elsewhere, in its full-year results ending December 31 2022, published yesterday (October 25), the Personal Finance Society reported total operating expenses of £7.99mn in 2022, of which £0.85mn was towards expert legal and financial advice on the back of the CII saga.
The PFS said operating expenses over the year were £3.22mn higher than in 2021 (£4.77mn).
It said the main reason for the increase related to event costs to support the in-person events held in 2022, such as the Festival of Financial Planning.
The CII has been contacted for comment.
sonia.rach@ft.com
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