Key Retirement has promoted its chief financial officer Simon Thomson to the newly-created position of deputy chief executive.
Thomson will be charged will helping Key achieve more growth after benefitting from increased demand for equity release.
Key said the board will appoint a new CFO in the coming months.
Colin Taylor, chief executive of Key Retirement Group, said: “Simon has made a huge contribution to the business during the last three years as a central part of our senior leadership team.
“Moving to deputy chief executive will enable him to focus on driving the next stage of growth across our business and I look forward to working with him as Key continues to expand.”
Key’s data shows that more than £1.58bn of property wealth has been released in the nine months to October this year, compared with £1.71bn in the whole of 2015.
Thompson said: “I am delighted to be given the role of Deputy CEO to continue delivering our strategy of building Key into the trusted brand for the over-55s in the retirement segment of financial services.
“The business has ambitious and achievable plans for growth and I look forward to working with the team to help deliver them.”
Before joining Key in 2013 Thomson was managing director, head of UK insurance coverage at RBS Markets.
He previously worked in the Financial Institutions Group at UBS Investment Bank and at PwC and is a fellow of the Institute of Chartered Accountants.