Former 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”.
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.