The announcement comes after it, and existing partner Santander, decided the time was right for a new sponsor after a 15-year partnership.

Robert Sinclair, chief executive at AMI (pictured above), said the AMI board was exceptionally grateful for the generous support the team at Santander had provided over the last 15 years.

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“This has been a significant commitment by a lender which has always shown tangible investment in the intermediary sector. 

“We are now moving into a new era, but will always recognise what this sponsorship delivered, particularly as we became established as an independent trade body.”

Brad Fordham, managing director at Santander for Intermediaries, added: “We will continue to support and work with Robert and AMI on industry and policy issues as we always have.”