The election took place at its AGM on 10 October and will run for an initial three year term of office.
Mr Cole-Fontayn succeeds Sir Alan Yarrow Chartered FCSI(Hon) who did not seek re-election having completed nine years in the post.
Following a 35 year career in financial services, at BNY Mellon, Mr Cole-Fontayn is chairman of the Association of Financial Markets in Europe (AFME).
He is also founding director and advisory council member of the Financial Markets Standards Board (FMSB), trustee of the Charlie Waller Memorial Trust (Mental Health Charity) and a founding chairman of the 30% Club.
He is also is a patron of Women in Banking and Finance.
Mr Cole-Fontayn said: “I am extremely pleased to be officially working with the Institute now as its chairman.
“I am particularly delighted to support CISI’s commitment to raising standards, conduct and professional behaviour, both in the UK finance sector and globally and I look forward to helping to encourage the next generation’s enthusiasm for a career in finance.”
Simon Culhane Chartered FCSI and CISI, CEO, said: “I am delighted to welcome Michael as our chairman.
“I very much look forward to working with him strategically so that we can remain adaptable and responsive as we grow our membership and professional qualifications both here in the UK and in global markets.”
The CISI also announced that two directors were elected to its board at the AGM: Martin Ruskin CFPTM Chartered MCSI and Chris Allen MCSI.
Mr Ruskin is head of business development at Paradigm Norton Financial Planning and Chairman of CISI’s Financial Planning Professional Forum.
Mr Allen was appointed HSBC’s regional head, global private banking EMEA in April 2018, having previously served as CEO of HSBC Private Bank in the UK with oversight of HSBC Private Banking’s businesses in the Channel Islands, France and Germany.