Equity Release Council appoints five new directors

The new directors are Claire Singleton, CEO of Legal & General Home Finance; Greg Neilson, MD at Aviva Retirement; Matthew Burton, MD of Mortgages at Hodge; Tom Evans, MD of Canada Life Home Finance; and Vanessa Owen, vice president of Reinsurance Group of America.

The five new appointees join three existing directors who have been reappointed to serve an additional two years: Dave Harris, CEO at More2Life; Paul Barber, CEO at Retirement Bridge; and Paul Carter, CEO at Pure Retirement.

They will sit alongside three further industry representatives, who are part-way through their terms: Will Hale, CEO at Key Retirement; Paul Turner, MD of retail at Just Group; and Dan Baines, commercial director at Age Partnership.

The Council’s main board is completed by its executive team: chair David Burrowes; CEO Jim Boyd; COO Donna Bathgate; and Standards Board chair Chris Pond.

The Council’s Standard’s Board – which develops and oversees consumer protections across the market – has also appointed Barbara Emmett, head of operations at OneFamily.

David Burrowes, chairman of the Equity Release Council, said: “The expansion of our board follows a period where equity release has become established as a mainstream financial services product, among the most carefully regulated in the UK, to help finance later life and meet a host of financial and social purposes.

“Our new directors will add to the industry expertise that guides our work. Together with the efforts of our Standards Board, their efforts will ensure the Council continues to lead the way in raising and standards in the equity release market, to provide the highest level of consumer protection for any property-based loan.”

Claire Singleton, CEO of Legal & General Home Finance, commented: “I am absolutely delighted to have been elected to the Equity Release Council board, and very much look forward to working with the directors to ensure the Council continues to uphold the best possible standards in the equity release market.

“Having recently been appointed as CEO of Legal & General Home Finance, I am keen to use my insight to collaborate with the ERC, lenders and industry leaders in making sure that customers are given more choice, allowing them to make measured decisions that meet their long-term financial needs. I strongly believe that in doing this, we will ensure that equity release continues to develop into a mainstream product, and one that continues to help consumers use their homes to effectively bolster their finances.

“It’s vitally important in this climate that we are helping people understand the role that equity release can play, giving them the appropriate guidance to make measured decisions that meet their long-term needs and aren’t just a reaction to current concerns.”