The Equity Release Council  has appointed five new directors to its management team.

Legal & General Home Finance chief executive Claire Singleton, Aviva Retirement managing director Greg Neilson, Hodge managing director of mortgages Matthew Burton, Canada Life Home Finance managing director Tom Evans and Reinsurance Group of America vice president Vanessa Owen all join the trade association’s board.

The new appointments hold experience from across the equity release, pensions, savings and investment sectors.

They join three existing directors who have been reappointed to serve an additional two years – More2Life chief executive Dave Harris, Retirement Bridge chief executive Paul Barber and Pure Retirement chief executive Paul Carter.

Three further industry representatives are part-way through their terms – Key Retirement chief executive Will Hale, Just Group managing director of retail Paul Turner and Age Partnership commercial director Dan Baines. 

Completing the ERC’s board are the executive team members, chairman David Burrowes, chief executive Jim Boyd, chief operating officer Donna Bathgate and chair of the standards board Chris Pond.

The standards board has also appointed OneFamily head of operations Barbara Emmett.

Burrowes says: “The expansion of our Board follows a period where equity release has become established as a mainstream financial services product, among the most carefully regulated in the UK, to help finance later life and meet a host of financial and social purposes.

“Our new Directors will add to the industry expertise that guides our work. “Together with the efforts of our standards board, their efforts will ensure the Council continues to lead the way in raising and standards in the equity release market, to provide the highest level of consumer protection for any property-based loan.”