Age Partnership Group has appointed Steve Auckland as its new chief executive.

Auckland joins the equity release provider to help it move to its next stage of development and has previously acted as a consultant and a non-executive director at the firm.

He succeeds Tim Loy, who has been appointed group chief executive, covering both Age Partnership and its sister company Pure Retirement.

Auckland will focus on the day-to-day running of the business, while Loy, who has led the company from start-up, will take a more strategic view of the group’s two companies, as well as expanding strategic collaborations and growing the number of funding partnerships.

Auckland was previously the managing director of the Yorkshire Post and was later MD of Metro, part of the Daily Mail Group.

He has also been chief executive of Northcliffe Media, another business in the Daily Mail group portfolio, with over 400 newspaper and web titles, including The Hull Daily Mail, Leicester Mercury, Bristol Post and the Cornishman.

In addition, Auckland was previously chief executive of ESI Media, owners of the Independent, i, London Live TV and London Evening Standard.

Auckland says of his role at Age Partnership Group: “Having been involved in a small capacity with the company over the last two years, I have been fortunate to witness the huge potential for further growth.

“This is a vital sector for the economy and as the UK’s number one equity release business, we are well placed to help customers release value from their homes & enrich their lives’.

Age Partnership and Pure Retirement chairman and founder Andrew Thirkill says: “Tim Loy has done an incredible job over the last 15 years. He has been responsible for growing the company from two people to more than 500, and creating a retirement-income market leader, with award-winning customer service, which is amazing.

“However, we both felt that as the business has grown rapidly, the day-to-day running was taking more of his time, precluding Tim from having a more strategic overview as the company plans the next phase of its development. The two Group companies employ 700 members of staff at their Leeds head offices and have become increasingly complex businesses.

“We are delighted, therefore, to have been able to appoint someone of Steve’s calibre to take over the role of CEO of Age Partnership, while Tim can use his unrivalled knowledge and strategic insight to continue to grow and develop both Age Partnership and Pure Retirement.”