Key Retirement Group has promoted Simon Thompson to the newly-created position of deputy CEO.

Thompson (pictured) has been chief financial officer (CFO) of the group for three years. He joined from the markets & international banking division at RBS, where he was managing director, head of UK insurance coverage and previously worked in the financial institutions group at UBS Investment Bank and at PwC.

In his new role will support CEO and founder Colin Taylor. The board will be recruiting a new CFO in the coming months.

Key Retirement Group companies include equity release adviser Key Retirement as well as lender More 2 Life, referral service Key Partnerships and master broker V Loans.

Taylor said: “Simon has made a huge contribution to the business during the last three years as a central part of our senior leadership team.

“Moving to deputy CEO will enable him to focus on driving the next stage of growth across our business and I look forward to working with him as Key continues to expand.”

Thompson added: “I am delighted to be given the role of deputy CEO to continue delivering our strategy of building Key into the trusted brand for the over-55s in the retirement segment of financial services. The business has ambitious and achievable plans for growth and I look forward to working with the team to help deliver them.”