He will be succeeded by current non-executive director Ian Brimecome.
Brimecome was appointed to the Board in January 2007 and is currently chairman of the Investment Committee.
Equitable announced last month that chief executive Charles Thomson is also leaving the company and Treves will retire when the new chief executive joins the company. A new chief executive has not been appointed yet.
Treves says: I am grateful to have been able to serve as the Chairman of Equitable Life for more than 8 years and I am very proud to have contributed as best I could to the job the Board has done.
When I came Equitable Life was teetering on the brink of insolvency and now, even in the face of this current recession, we have confidence in the future.
Since 2001, I have seen the Society go through a period of immense change alongside our many policyholders. There have been many hard times – both within the Society and in the wider financial world; but we have, nevertheless, strengthened, stabilised and simplified the business to get the best
possible outcome for policyholders.
With Equitable Life now in a much better place, I believe the time is right to hand over to Ian.”