The London Institute of Banking & Finance has selected experienced educational technology executive Steve Hill to be its new Vice-Chancellor and CEO from July.

The LIBF is a professional body which awards a range of qualifications in banking and finance, including the Level 6 Diploma in Financial Advice (Adv DipFA) and the Diploma in Paraplanning.

The body also awards Chartered status with some qualifications.

Mr Hill has a long track record in higher education, including roles as CEO of Open University Worldwide and chair of FutureLearn.

He is founding CEO of Skills Based Learning Ltd, a company that works with universities and education technology (edtech) providers.

The LIBF says he brings, “a profound commitment to leveraging digital technology for educational access and excellence.”

He succeeds Alex Fraser who has been CEO for nine years and will continue to be a senior adviser.

Mr Hill is expected to focus on technology and digitalisation to “open education to all,” the LIBF says.

The LIBF says it will, “redefine the possibilities of distance learning and online education.”

Mr Hill said: “What makes LIBF so attractive for me is the long-standing history and heritage of this rich institution. I find the mission of democratising education highly energising, and purpose driven.

“I want to do my best to positively contribute to LIBF’s mission in preparing future leaders with the skills and expertise needed for the current workforce. By allowing students to adapt their learning journey to their individual needs, it best prepares them with the latest industry knowledge and practical skills for their next professional steps.”

In January the London Institute of Banking & Finance revamped its Level 4 Diploma for Financial Advisers (DipFA) and scrapped the requirement for a final exam.

The DipFA is the minimum level qualification needed to become a financial adviser, as set out by the FCA.

The London-based LIBF is now a wholly-owned UK subsidiary of the International University of Applied Sciences, the university arm of IU. It was acquired by German educational technology provider IU Group for an undisclosed sum last March.