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Ex-Partnership chief exec Groves takes new role at equity release provider

Rising-House-Prices-Property-Ladder-500x320.jpgFormer Partnership chief executive Steve Groves has found a new role as chairman of equity release specialists Key Retirement.

Groves remains chairman at another equity release provider, Retirement Bridge Group, after leaving Partnership Group in the wake of its merger with Just Retirement in 2015.

Retirement Bridge Group’s private equity backers then sold their stake in the firm, with Groves staying on.

Key Retirement says in a statement that Groves will help the firm “ensure housing equity and ways of unlocking that equity continue their development into mainstream financial planning”.

While Key Retirement did roll back its pensions advice arm in 2015, it received a £208m injection by investors Partners Group last year, and is now looking to increase its adviser numbers.

MM Profile: Steve Groves

Groves says: “I know Key Retirement Group well having worked previously with them as a major business partner and I look forward to working with [chief executive] Simon [Thompson] and the team to build on the relationships and knowledge both they and I have from the past two decades in this sector to help serve existing and new customers.

“The acquisition by Partners Group means Key is poised to grow substantially and I look forward to working with the team and being part of the growth over the coming years.”

David Young, who was serving as non-executive chairman of Key Retirement, will stay in his role as a non-executive director.

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Guide: how to… communicate with your pension members

Effective communication of your pension scheme is a large part of getting auto-enrolment right. Delivering the same message to all employees is not necessarily the way to go. To assist you with the communication of your pension scheme, we have provided some key areas to think about, such as:

  • What to consider when segmenting your workforce
  • How to communicate to pension scheme members at the right time in their member lifecycle
  • What topics you should be discussing with your pension members
  • The new pension freedoms and the importance of communicating them

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