The trade body, which represents English-speaking advisory businesses operating across Europe, said it appointed Westwood to see the organisation through the “significant change” expected from the Britain’s decision to leave the EU.
“John has brought a wealth of industry and advisory sector experience to our board in recent times and I am personally very pleased that he is our new chairman.
“Following the Brexit vote we will no doubt see significant change in our world over the next 12 months and beyond. Feifa will ensure that our members are kept fully informed and advised during the whole process, and John’s know-how will be invaluable in this, I am sure,” said Feifa’s chief executive Paul Stanfield.
Westwood replaces Marriott
Westwood will replace outgoing chairman Chris Marriott, the managing director of Geneva-based advisory firm Blackden Financial, who will stay on the professional body’s committee as a vice chairman.
Stanfield thanked Marriott for doing a “wonderful job over the last few years”, adding that Westwood’s appointment would bring “new blood” to the non-for-profit trade association.
“As in keeping with our past approach, we feel that it is beneficial for the chairman to change periodically, to provide an injection of “new blood” at the very least,” explained Stanfield.
Brexit challenges
Westwood, whose firm has been operating across Europe for more than 30 years’ with offices in France, Spain, Portugal and the Caribbean, said he was “proud to take on this important role”.
“I am looking forward to the challenges ahead, particularly as the UK faces the prospect of Brexit and all the change that this may bring about for the financial services sector.
“As the UK’s withdrawal from the EU goes ahead, IFAs will be at the forefront in ensuring consumers’ financial dealings are secure,” said Westwood in a statement on Tuesday.
Gibraltar move
Westwood’s appointment comes months after Brexit vote where the British electorate voted on 23 June in favour of leaving the European Union.
In the immediate aftermath, Westwood told International Adviser that his Gibraltar-headquartered firm is planning a possible move of its business to a different European country in a bid to preserve its EU ‘passporting’ status.
