The Equity Release Council, the governing body for equity release products in the UK, has appointed Jim Boyd in the new role of Chief Executive Officer.
Bringing a wealth of experience from across the retirement industry, Boyd will work alongside David Burrowes as Chairman and Donna Bathgate as Chief Operating Officer to lead the organisation and represent its growing membership as equity release becomes an increasingly important part of later-life planning.
“The Council has done fantastic work in facilitating the growth of a safe equity release market that gives more consumers access to a financial solution in later life,” said Boyd. “I’m looking forward to representing the equity release sector and its customers as we face up to wide-ranging societal challenges, from intergenerational wealth inequalities to social care needs.”
Looking to the future
In 2017, the equity release industry surpassed £3bn of lending for the first time, serving approximately 67,000 customers, while The Equity Release Council itself has grown to represent over 220 member firms and 710 individuals.
As CEO, Boyd will be a vocal advocate for the UK’s ageing population, championing the benefits of retirement planning and housing wealth within later life to the government, voluntary and public sectors, as well as regulatory, consumer and professional bodies. Previously an adviser to the Department of Work and Pensions, Boyd also influenced government policy discussions on the 2014 Care Act during his time at specialist life assurer Partnership Assurance Group.
“I’m delighted to welcome Jim Boyd to the new role of CEO,” said David Burrowes, Chairman of the Equity Release Council. “Housing wealth is realising its potential to play a vital role in broader retirement planning conversations. As these debates continue, Jim’s experience in the strategic development of organisations and policy initiatives will be instrumental in The Council’s development as the sector’s authoritative voice.”
As members of the Equity Release Council, we pride ourselves on our ethical approach to equity release, with our our whole-of-market service ensuring you get the most suitable product for your needs and circumstances. Contact us today to find out how we can help.