Paddy Power Betfair on Wednesday said it has appointed Jonathan Hill as its new chief financial officer and that he will join the company in the autumn.

Hill is currently CFO at insurance and travel group Saga, which said it will immediately start to look for a replacement.

Chief executive Peter Jackson said: “We’re delighted that Jonathan is joining us. He brings substantial strategic and operational finance experience in consumer businesses and I am confident he will make a significant contribution to Paddy Power Betfair’s future success.”

Paddy Power, and indeed the betting industry in general, is facing a potentially challenging future as the UK government considers consumer protections such as new limits on fixed-odds betting terminals. Commenting on his new role, Mr Hill said: “I am excited to be joining a business with great brands, differentiated products and substantial international scale.”