The Equity Release Council has appointed Jim Boyd as chief executive officer to expand and strengthen its executive capacity as the representative trade body for the equity release sector.
Having successfully launched Just Retirement in 2004 as its first head of external communications, he was an expert adviser to the Department of Work and Pensions.
He was also deputy director and head of research at the influential think tank Reform, where he focused on retirement, pensions and long-term care funding.
David Burrowes, chairman of the Equity Release Council, said: “I’m delighted to welcome Jim Boyd to the new role of chairman. 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.
“Jim will play a central role in building the next chapter of the equity release sector’s growth, engaging with industry and government about practical solutions to support the UK’s ageing population.”
Boyd will work with Burrowes and chief operating officer Donna Bathgate to help the xouncil explore opportunities and build awareness of the products and advice on offer.
Boyd will help the council’s members develop the market effectively, to ensure it is fit for purpose to meet evolving consumer needs.
He will also be an advocate for the benefits of housing wealth within later life funding and retirement planning to the government, voluntary and public sectors, along with regulatory, consumer and professional bodies.
Jim Boyd, incoming chief executive of the Equity Release Council, added: “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.
“As the market goes from strength to strength, it’s a very exciting time to be joining The Council. 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.”
His appointment to the council comes with immediate effect, following a board decision in June.
During his career at Partnership Assurance Group plc – a FTSE UK specialist life assurer, Boyd oversaw all external media and policy issues with a mandate to support the business’ growth.
He also helped to shape government policy discussions in areas including the 2014 Care Act and the secondary annuities market.
The industry surpassed £3bn of lending for the first time in 2017 to nearly 67,000 new or returning customers, while The Council itself has grown to represent over 220 member firms and 710 individuals.