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Equitable Life boss says board talked about his resignation

Equitable Life managing director Alan Nash has revealed that other directors discussed whether he should resign when the life office lost its case in the House of Lords.

On the morning of the ruling, which made the mutual liable for £1.5bn costs and forced it to put itself up for sale, the board held discussions about resignations in Nash’s absence. It eventually decided they were not justified.

Nash says policyholders’ interests would have been damaged by the disruption resignations cause.

Equitable life directors are facing a campaign to let policyholders have a role in the sale of the society led by IFAs Whitechurch Securities.

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