They will be taking over from Dorothy Hamilton MCSI.

Mr Gibson is the Institute’s first president from the financial planning community in Scotland. He is the managing director of Wells Gibson Limited – an independent and boutique, family-owned business in Dundee.

Upon appointment, he said: “The decision for Shaid and I to assume the roles of co-presidents for the next two years is an honour and a responsibility, and I relish the opportunity to contribute to the continued success of the CISI in Scotland.

“I am humbled by the decision to leverage my knowledge and experience in the financial planning sector, and I am very grateful Shaid will focus on strengthening our relationships across operations, compliance, and risk. I am eagerly anticipating the exciting times ahead and the continued growth of the CISI in Scotland under our collaborative leadership.”

Mr Moughal is head of client assurance at abrdn and has over 25 years of experience in the institutional and retail sectors. He has been a leading industry commentator on the Financial Conduct Authority’s Client Assets Sourcebook (CASS) rules and was a founding member of the Scottish CASS Forum.

He said: “It’s a great honour to take over alongside Jonathan, who I know will be brilliant in engaging the financial planning sector. Together, we can add to the growth and momentum of CISI Scotland.

“I think this offers us a unique opportunity to focus on the major areas within Scotland’s financial sector and extend our reach even further, engaging more people and building on the successes of the excellent work that’s already been done.

“I am really looking forward to working with the CISI, with my co-president, Jonathan, and our excellent committee members.”

Outgoing committee president Dorothy Hamilton MCSI said: “The decision to opt for co-presidents this year is driven by our collective goal to continue to grow CISI Scotland even further.

“We believe that leveraging Jonathan’s extensive experience and network within the financial planning sector will enable us to enhance our engagement with financial planners and wealth managers in Scotland.

“Simultaneously, Shaid will focus on strengthening our relationships across operations and compliance/risk. This combined leadership is sure to be a great growth success story for the Institute.

“I would like to thank CISI and its members for all the support you have extended to me during my tenure as president. Representing the CISI in Scotland has been a truly amazing experience and I have loved every minute.”

Tracy Vegro OBE, CISI chief executive, said: “We are delighted to welcome Jonathan and Shaid as the CISI’s first-ever co-presidents of the Scotland committee.

“We all look forward to supporting them and the committee in developing their strategy for boosting awareness of CISI and growing our membership network in Scotland over the year ahead.

“We must also, of course, take this moment to extend a big thank you to Dorothy Hamilton for her leadership and vision as the immediate past president.”