Adam Tyler will stand down as chief executive of the National Association of Commercial Finance Brokers (NACFB) after 11 years.

Tyler joined the NACFB in 2005, when it was based in a small office in Exeter in the UK, with one member of staff, 400 members, and 48 patrons.

Since then, the NACFB has grown to 14 staff, 1600 members, and more than 140 industry patrons, and is based in London.

According to the NACFB, as the Financial Conduct Authority (FCA) shifts to supervise and oversee NACFB members, both Tyler and the board agreed new leadership was needed.

Paul Goodman, association chairman, at the NACFB, said: “The NACFB and I wish Adam well for his future endeavours and I am looking forward to working with Adrian Coles, my vice chairman, and the rest of the board during this next chapter of the association’s history.”

Tyler will leave the NACFB with effect from 31 December 2016.