Key Advice has revealed the promotion of Chris Bibby to a newly created role of managing director – internal advice.

The provider of specialist later life lending advice to the over-55s says his appointment comes as the sector sees early signs at the start of the year of “encouraging” new business volumes.

Bibby (pictured), who joined the business in 2017 as Key Group chief marketing officer, will take day-to day responsibility for all the functions in the internal advice division including Key Later Life Finance, and The Equity Release Experts, as well as the advice partnerships with Standard Life and Sunlife.

The role will also include the referral business Key Partnerships as well as maintaining his existing direct to consumer marketing responsibilities.

He will report into Will Hale who will retain overall oversight of the advice business including all regulatory responsibilities in his new role of group director – advice and partner relationships. Hale’s expanded remit reflects Key Group’s ambition to better engage with mainstream mortgage advisers, IFAs and wealth managers with the purpose of helping them fully embrace the opportunities that the modern later life lending sector can bring to them and their customers.

Hale said: “Chris is ideally placed to ensure that the advice business continues to play its part in the success of Key Group through the next phase of our journey, capitalising on the opportunities presented by an expanding later life lending market.

“Having spent seven years in the Group, with a deep understanding of our customers and their needs, he is well positioned to guide Key Advice successfully through this evolving market.

“His appointment is part of a drive intended to supercharge our growth as we build for expansion this year and reflects the need to ensure we use the skills and knowledge of all the people in our business to best effect.

“After a tough 2023 in the later life lending sector, the start of this year has given plenty of reasons to be cheerful and the early signs on new business volumes across the group are encouraging. I continue to be optimistic about the overall prospects for 2024.”