Equity Release Council Will Not Fill Rozario's Role

The role of director general at the Equity Release Council is to disappear, Andrea Rozario has said.

Ms Rozario, who will step down as director general in February, said her role would not be filled, but chairman Nigel Waterson would become the public face of the trade body.

Instead, she said, the board was considering seeking a chief operating officer.

Asked why she was leaving at a time when demand for equity release plans was increasing, Ms Rozario responded: "I have been with the organisation for five years and have done what I came to do."

She said she would take time off to go travelling, but said when she returns she may be interested in another trade association role.

Her resignation coincided with the departure of the FCA's director of the conduct policy division, Sheila Nicoll. Ms Rozario suggested Ms Nicoll would be more interested in a broader role.

She said there were many candidates who could fill a COO role, and, when asked, admitted that Adrian Coles, the outgoing director general of the Building Societies Association, could be a good candidate, but said he may be considering a number of roles.

Mr Waterson added: "Ms Rozario has worked hard to build an organisation that truly represents the entire equity release sector, while crucially maintaining and widening the Safe Home Income Plans standards."

"The launch of the council has been a huge success and we are ideally positioned to continue to build the organisation in the future.“

Contact Details:

Simon Chalk, Technical Manager - Equity Release
E-mail: simon.chalk@agepartnership.com
Tel: 07734 151 251
Website: www.agepartnership.com

Notes to editors

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