Equity-release trade body Safe Home Income Plans has appointed former Conservative Shadow pensions minister Nigel Waterson as chairman.
Waterson replaces Laurie Edmans, who stepped down in December 2011.
Waterson says: “This is a historic moment of opportunity for equity release to boost incomes in retirement, fund long-term care costs and generally support a comfortable older age for many of our citizens.
“I am delighted to be involved in launching the new and reinvigorated organisation and helping the industry meet these vital challenges.”
Waterson’s appointment follows the trade body’s decision to open its membership to the entire industry, including intermediaries. Ship was previously a trade body for equity-release providers only.
Director general Andrea Rozario says: “Ship is undergoing one of the biggest stepchanges of its 20-year history and we are extremely pleased to appoint a new chairman with the depth and breadth of knowledge that Nigel offers. I look forward to working closely with him in the coming months as we work to launch the new body.”
Partnership managing director of equity release Ged Hosty says: “Nigel’s experience as a minister and a senior lawyer make him perfectly suited to the job.”