The UK Payments Council's chief executive, Adrian Kamellard, is quitting the bank-run organisation as it prepares to "refocus" ahead of the introduction of a new payments regulator.
With a replacement not yet lined up for Kamellard, Payments Council chairman Gerard Lemos will temporarily become executive chairman.
In nearly three years in the job, Kamellard oversaw the successful rollout of two major projects - the current account switch service and mobile payments tool Paym.
However, he was also left to deal with the fallout from an earlier Council decision to abolish cheques. Although a U-turn was made before Kamellard joined the organisation, the bungled process prompted the government to move to rein in the self-governing body.
Ultimately, this led to a decision to create the utilities-style Payment Systems Regulator (PSR), which will become operational next April, necessitating a "refocusing" for the once all-powerful Council.
Speaking to Finextra recently, Kamellard insisted that his organisation still has a vital role to play because "regulators are not there to develop strategy for the industry".
But earlier this month rumours surfaced that the Council could end up merging with the British Bankers' Association.
Whatever its fate, Kamellard will not be a part of it, saying: "As collaboration in the industry enters a new phase, this is the right time for me to stand down in order to ensure the refocused Payments Council continues to deliver for consumers and the industry alike."