In October he resigned from the troubled organisation after just over a year in the role to become the new CEO of the Institute of Chartered Accountants in England and Wales (ICAEW).

He was scheduled to work a six month notice period at the CII before leaving for the ICAEW.

However a CII spokesperson confirmed today that, by agreement, Mr Alan Vallance will leave the CII at the end of December, rather than the Spring.

Gill White, the CII’s current chief customer officer, will become the acting chief executive for the CII Group on Mr Vallance’s departure.

A management group will be drawn from the existing CII executive and senior leadership teams and will support Ms White until the appointment of a new CII Group chief executive. The CII is now looking for its fourth CEO in just over two years.

The CII has been embroiled in a year-long row with its Financial Planning subsidiary the Personal Finance Society over governance and finances. The row has resulted in a number of resignations from the PFS, including newly-elected President Caroline Stuart and several PFS board members.

Last week the interim chair of the PFS, Andy Briscoe, also quit the board after only six months although his reasons were understood not be connected to the PFS/CII row.

Former CII CEO Sian Fisher resigned in October 2021 following a row about the axing of the PFS CEO role. The PFS role was later reinstated.

Early in the new year Mr Vallance will join the 166,000-member ICAEW which has been searching for a replacement for its current CEO Michael Izza. Mr Izza earned just over £630,000 in 2022, according to the ICAEW’s latest annual report. Mr Vallance’s current CII package has not been disclosed by the CII yet but his predecessor at the CII was on a package of between £225,000 and £250,000.

Mr Vallance, a qualified Chartered Accountant, has a long track record in financial services and professional bodies and was previously CEO of the Royal Institute of British Architects.

His appointment as CII CEO was announced in April 2022 but he only formally took over the role of CEO from his predecessor, interim CEO Jonathan Clark, in August 2022.