The Financial Services Institute of Australasia (Finsia) held its first annual meeting last month and – in its final steps towards formalising the institute – a new constitution and board was elected.

During the past 12 months, a joint board consisting of 16 directors from the Securities Institute of Australia and the Australian Institute of Banking and Finance oversaw operations during the merging of the two institutes

But members are now satisfied the board can operate with fewer elected directors.

The board has effectively been reduced from 16 to 11, with Michael Shepherd as President. Former joint Vice President Chris van Aanholt is now Vice President.

“Our united expertise strongly positions us as a leading educator and membership body, building careers and raising standards in financial services,” Mr Shepherd said.

“The institute is in great shape due to the tremendous efforts of the previous presidents and boards of both of Finsia’s predecessors. It is well placed to meet the challenges ahead and seize future opportunities.”