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Equity Release Council Expands Board

Equity Release

The Equity Release Council has voted to add three directors to its main board while widening membership of its Standards Board, following its Annual General Meeting.

Will Hale, CEO of Key, Paul Turner, managing director, retail at Just Group, and Dan Baines, managing director of Equity Release Associates, have all been re-elected to serve an additional two years on the Council’s 16-strong Executive Board. They sit alongside a range of senior industry representatives who are part-way through serving two-year terms. The Main Board is completed by the Council’s executive team: David Burrowes, chairman; Jim Boyd, CEO; Donna Bathgate, COO, and; Chris Pond, Standards Board chair.

Stuart Wilson, CEO of Answers in Retirement and James Ginley, who joins e.surv as technical director in May, have also been elected to join the Council’s Standards Board and expand its membership to nine.

David Burrowes, chairman of the Equity Release Council, said: “The Council has worked hard with members over the last year to progress important initiatives to support robust and consistent standards in the market, including launching a new Competency Framework to support adviser development. The ability to bring together perspectives from across the sector has been vital to maintaining consumer safeguards in an unprecedented operating environment. I look forward to working with our returning directors and the wider Board to champion the role of property wealth and flexible home finance as a mainstay of later life planning. The expansion of the Standards Board will help to ensure our consumer-focused standards continue to evolve and set out best practice across all participants in the equity release process. We are passionate about broadening sector representation as we strive to provide the highest level of consumer protection for any property-based loan in later life.”

The Standards Board oversees the development and implementation of consumer-focused standards. In a release, the Equity Release Council said the expansion will ensure the Standards Board encompasses broader industry representation from across the market.