Jon King is stepping down as managing director of more 2 life.

He leaves more 2 life, which has built a market share of more than 10%, on 14 September 13 following nearly three years with the lender.

More 2 life has created products for customers facing interest-only shortfalls and improved LTVs to customers with medical conditions or lifestyles affecting life expectancy.

Key Retirement Solutions, its parent, is planning to accelerate growth following the sale of a majority stake in the KRS Group of companies to Phoenix Equity Partners.

King said: “More 2 life is firmly established as one of the biggest equity release lenders and now is the right time for me to move on.

“I have enjoyed helping deliver the success we have had as part of Key Group and I am confident that will continue.”

Colin Taylor, chief executive of Key Retirement Solutions, added: “Jon has been invaluable in building more 2 life into a major lender in the equity release market and leaves with our best wishes as we continue to build KRS into the trusted brand for the over 55s.”