Personal Finance Society (PFS) chief executive Keith Richards is stepping down from his role this summer after eight years in the job.

Richards (pictured), who was appointed CEO in 2013 following the implementation of the Retail Distribution Review, will step down from his role on 30 June. Before the PFS, he was distribution director at Tenet.

Richards has contributed to the PFS' growth and led many speeches at both PFS events and other events led by businesses in the sector.

He helped launch the pro-bono programmes including MoneyPlan with Citizens Advice, Forces MoneyPlan for armed forces veterans and My Personal Finance Skills.

A spokesperson for the PFS said that a chief membership officer will be recruited in due course but will not hold a joint title of chief executive of the professional body.

PFS president Sarah Lords thanked Richards for his work during his time as CEO.

"He has led the evolution of the society to the financial planning community's leading professional body and, importantly, through his work with members, policymakers and consumers he has played a significant role in raising the profile of our profession, for which, we are all grateful," she said.

Meanwhile, Chartered Insurance Institute president Sian Fisher said: "Keith has been a committed and much valued colleague who has contributed significantly to the PFS and the CII change programme in the last eight years. We all wish him every success for the future."

First published by our sister title Professional Adviser