The Council of Mortgage Lenders said Moray McDonald, head of personal and business banking products at Royal Bank of Scotland, will be its new chairman from January 1.

The Council of Mortgage Lenders said Moray McDonald, head of personal and business banking products at Royal Bank of Scotland, will be its new chairman from January 1. He will succeed Stephen Noakes, mortgage director for Lloyds Banking Group, who has been chairman for the last year.