Mr Tancred has enjoyed a long and successful career to date in a number of financial and senior managerial positions. He was most recently employed by the British Institute of Facilities Management, latterly as its Chief Executive Officer, where he oversaw a significant growth in its qualifications, membership and profitability.

Mr Tancred said:

”I am very excited to be joining PMI at this time. I look forward to building on the successes that Vince, the Board, Advisory Council and the PMI House team have achieved and to delivering the PMI vision. Clearly there are significant challenges ahead, but I eagerly anticipate serving an industry and profession that is vital to the economy and society at large.”

He commences work at the PMI on 1 March, where he will work for a period alongside Mr Linnane to ensure a smooth transition.

PMI President Kevin LeGrand commented:

“I am delighted to welcome Gareth to the PMI team. His experience, enthusiasm and impressive track record make him an ideal candidate to lead the PMI through the next phase of its development. I have no doubt he will provide strong leadership for the Institute though the challenges that undoubtedly lie ahead, positioning it to help its members in addressing the new pensions and savings world that is developing now.

I would also like to pay tribute to Vince Linnane, who has led the PMI to this point, handing on a strong organisation to Gareth. I wish Vince every success in his future endeavours.”