The Community Development Finance Association has appointed Ben Hughes, the former head of Bassac, as interim chief executive.
Hughes, who took up the post yesterday, stood down as chief executive of Bassac, a membership body for community organisations, when it merged with the Development Trusts Association to form Locality.
The CDFA is the umbrella body for community development finance institutions, which lend money to social enterprises and businesses and individuals in deprived areas.
Hughes replaces Bernie Morgan, who announced in April that she would stand down this month after securing a £60m financing package for the sector through the Regional Growth Fund, as well as the continuation of community investment tax relief, which allows investors in CDFIs to receive 25 per cent tax relief.
A spokeswoman for the CDFA said she could not confirm how long Hughes would remain in the post or whether he was a candidate to fill the vacancy on a permanent basis.
Hughes was unavailable for comment.