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The illness of Steven Crawshaw, who has suffered a serious cardiovascular condition, has not only led to a reshuffle at the top of Bradford & Bingley but also at the Council of Mortgage Lenders, for whom he was chairman.

Mr Crawshaw joined Bradford & Bingley from Lloyds TSB in 1999 as flotation director before being appointed to the board in January 2002, heading up group strategy for HR and IT.

In January 2003, he became lending managing director and was appointed group chief executive in March 2004. He was also chairman of the CML and a member of the bank's nominations committee.

Mr Crawshaw became a legal manager at Cheltenham & Gloucester in 1991, before joining Lloyds TSB, where he was then finance director Andrew Longurst's PA, and was eventually hired by B&B in 1999, when it was still a building society.

After replacing his Bradford & Bingley predecessor Christopher Rodrigues, he introduced radical changes to the business, abolishing its estate agency and mortgage broking wings.

A statement from the bank said: "Due to a serious cardiovascular condition, Mr Crawshaw has stepped down as group chief executive with immediate effect. Rod Kent, chairman, has become executive chairman while the company sets in train a process to appoint a new chief executive.

"Nick Cosh, senior independent director, has been appointed deputy chairman with immediate effect."

A CML spokesman said he could not comment on Mr Crawshaw leaving Bradford & Bingley but confirmed he was no longer chairman.

He said: "I can confirm he has stepped down as chairman of the CML with immediate affect. We had absolutely no warning."

Richard Brown has been confirmed as acting chairman of the CML.