Cary Depel has been promoted to chairman at the Institute of Risk Management (IRM).

Depel, the IRM's former deputy chairman, has replaced Mike Walker as chairman. He is the legal and compliance director at IFX Markets and a director of City Index.

Depel commented: “I am looking forward to leading the Institute of Risk Management as chairman in 2007 in our mission to be recognised worldwide as the leading international organisation for applied risk management education.

“We are building on strong foundations. The passionate and creative work of our members, office and directors has strengthened our financial position and refined our mission, allowing us to move toward significant international expansion and consolidation in our home market. In particular we look forward to launching a fully revised diploma qualification in 2007, which will meet the needs of enterprise risk professionals for the next decade. We are looking east for our international expansion as we aim to bring our message and the benefits of IRM membership to the world.

“We also are working towards being the most visible and respected brand for people, organisations and other institutions with an interest in risk management.”