Equity release adviser firm Bower Retirement Services has announced the arrival of Jon King as the firm’s non-executive chairman.

His appointment is effective immediately.

King’s career in financial services spans almost 30 years, the majority of which has been spent in equity release. Most recently, he was managing director of equity release provider More2Life from 2010 to 2013. Prior to that, King (pictured, left) was managing director of Hodge Lifetime from 2000 to 2010 and during this period also served as chief executive and chairman of industry body Safe Home Income Plans (SHIP).

Earlier on, King worked for the likes of National Mutual Life Assurance, Clerical Medical Investment Group, Pearl Assurance, Ecclesiastical Insurance Group and equity release advisory firm Hinton & Wild.

Andrea Rozario (pictured, right), who joined Bower in July to conduct a strategic review , now moves into an executive role as the chief corporate officer, also with immediate effect.

Geoff Charles (pictured, centre), CEO of Bower Retirement Services, said: “It is a massive coup for Bower that we have been able to attract an individual of Jon’s calibre to chair the firm and oversee the next stage of its development. He has spent close to two decades in the equity release sector and his experience operating on the advisory side of proceedings in addition to as a provider and on a trade body panel gives him great insight into where the market has come from and where it is headed.

“When you consider we are already able to call on the considerable expertise of Andrea Rozario – former director general of the Equity Release Council – we have been able to assemble an enviable executive team, that will help us grow from strength to strength.”

King said: “The equity release market has enjoyed a strong year and will grow further in future as older homeowners continue to wake up to the benefits it can bring. I have seen the sector evolve to adapt to consumer requirements and it has become an essential component of the retirement industry.

“Joining Bower at an exciting time in its development was too good an opportunity to turn down and I look forward to maintaining its position as one of the pre-eminent independent equity release advisory firms and helping it grow further.”