UK-based regulatory consultancy The Consulting Consortium has named Simon Waugh as chairman of its board.

Waugh was formerly group sales and marketing director at Centrica. He also served as the chief executive of AWD Chase de Vere and as managing director of SAGA Services.

UK regulatory consultancies have become far more visible in recent times due, in large part, to the forthcoming implementation of the Retail Distribution Review package of reforms on 31 December.

The programme is arguably the biggest-ever shake-up of the UK advisory industry and its wide-reaching changes include an end to commission payments in favour of fees and a rise in minimum professional standards. As such, firms have been using specialist consultants to ensure that their models, processes and technology are up to scratch.

Another consultancy which has been rapidly expanding is Bovill, which this summer boosted its team with three new hires following what it calls a “run” of new business wins in the last six months.