The Equity Release Council has appointed John Godfrey as its new chair. John succeeds David Burrowes, who will step down in October following nine years in the role.
John brings more than four decades of experience gained from senior leadership across financial services, government and public policy including as head of the No.10 policy unit, where he led the Prime Minister’s team of political advisers and civil servants developing the government’s strategic policies, including work on pensions and longevity.
His extensive career in financial services includes 16 years in senior roles at Legal & General.
He also has senior level experience within financial services trade bodies, as the managing director for public affairs, policy and research at TheCityUK, which champions the UK’s financial and professional services industry.
John currently serves as a commissioner on the Financial Inclusion Commission and is a trustee for the Centre for Ageing Better.
John Godfrey said: “David Burrowes has done an outstanding job as chair of the Equity Release Council and it is a real privilege to be succeeding him. I look forward to building on the Council’s strong reputation across the later life lending sector. The standards set out by the Council are recognised globally and continue to underpin the safe growth of such a critical part of the market and wider economy.
“As people live longer and retirement savings face greater pressure, housing wealth is increasingly becoming an integral pillar of later life financial planning. Recognising this vital role, I will work closely with members, policymakers and industry peers to champion the Council’s high standards and ensure the sector continues to grow responsibly and meet the needs of a growing number of homeowners.”
David Burrowes added: “The appointment of John Godfrey as the new chair is an important one for the Council and comes at a pivotal time for the UK later life sector. Given his extensive policy, corporate and consumer experience, he will be a huge asset to the Council as it continues to set the standard and supports the responsible growth of this socially important sector. I am delighted to hand the baton of chair over to John who will, alongside an excellent board and executive team, lead the Council and its members to realise our ambition that every homeowner can use their property wealth safely confidently and responsibly in later life."
