The move means Sedgwick has also stepped down from her position as chair of the Intermediary Mortgage Lenders Association (IMLA) – she was the first female to be appointed to this role.

Jeremy Duncombe, managing director of Accord, who was deputy chair at IMLA, will take over as chair with immediate effect.

It was announced last week Sedgwick would be leaving Vida at the end of March and would be replaced by Richard Tugwell.

Sedgwick has been chair of IMLA since November 2019 and in this time has played a central role in orchestrating its stakeholder engagement and proactive activity.

Following the significant disruption caused by the pandemic, Sedgwick worked to ensure the Association’s regular executive committee meetings were able to continue remotely, hosting the sessions alongside a range of virtual member events throughout 2020.

IMLA said her leadership had helped it navigate the challenges presented by the Covid-19 crisis. But, Sedwick had also been key in lobbying for government support for non-bank lenders throughout this period.

Under the first female chair’s tenure, IMLA published numerous industry reports and consultation responses, as well as maintained close ties with the government, Treasury, Bank of England, and the regulator to continue to promote members’ interests.

Sedgwick is due to join Tandem Bank on 1 October following a period of gardening leave. Since accepting her new role, the bank has submitted an application to join IMLA, recognising the value the membership brings.

Kate Davies, executive director of IMLA, said: “I am very grateful to Louisa for all the hard work she has done during her time as Chair – some of which is not directly visible to all members, but which is nonetheless extremely important in representing members’ views to those who need to hear them.

“She has been pivotal in adding value to our membership throughout an extremely challenging 14-month period, and it’s disappointing that she’s unable to continue in this role for the remainder of her term.

“We wish her every success in her new role and look forward to welcoming her back into our ranks later this year.

“In the meantime, we’re delighted that Jeremy, who has long been a trusted member of IMLA’s management committee, is to take over as chair.”

Sedgwick said: “IMLA plays a fundamental role in supporting intermediary lenders by providing them with a unified voice, as well as a forum to discuss and debate key industry issues. I would have loved to have finished my full term as IMLA’s first female Chair, however, I know the Association is in safe hands with Jeremy.”

Jeremy Duncombe, chair at IMLA said: “We’re all sad to see Louisa step down and we look forward to welcoming her back as soon as possible. She has made great strides in her time as chair, and I look forward to picking up where she left off, working hard to support IMLA’s membership over the coming months.”