Fresh from the $36 million sale of its educational arm, the Financial Services Institute of Australasia (Finsia) has appointed Martin Fahy as CEO.

He succeeds Brian Salter, who quit in July following the sale to Kaplan.

Mr Fahy, who was formerly Asia-Pacific Director of the Chartered Institute of Management Accountants, has been charged with building Finsia into a professional services body. The organisation has 21,000 members and a capital base of about $45 million.

Finsia President Michael Shepherd says Mr Fahy is exceptionally well placed to lead Finsia as an organisation focused on being the connecting point between employers and the membership.

"In addition to developing Finsia as a member-centric professional body, he will also be ensuring that our voice is heard as an industry advocate on key issues facing the financial services sector and in the development of industry standards."