The Equity Release Council has announced the appointment of new directors, following the latest election of members to its board.

Claire Singleton, CEO of Legal & General Home Finance; Greg Neilson, managing director at Aviva Retirement; Matthew Burton, managing director of mortgages at Hodge; Tom Evans, managing director of Canada Life Home Finance, and Vanessa Owen, vice-president, Private Markets UK of Reinsurance Group of America have been elected to the 15-strong board of directors.

The five new appointees join three existing directors who have been reappointed to serve an additional two years: Dave Harris, CEO at More2Life; Paul Barber, CEO at Retirement Bridge, and Paul Carter, CEO at Pure Retirement.

They will sit alongside three further industry representatives, who are part-way through their terms: Will Hale, CEO at Key Retirement; Paul Turner, managing director of Retail at Just Group and Dan Baines, commercial director at Age Partnership.

The Council’s main board is completed by the Council’s executive team: David Burrowes, chair; Jim Boyd, CEO; Donna Bathgate, COO, and Chris Pond, Standards board chair.

The board of the Council has expanded following a modification of its constitution last year. This, it says, will enable the board to co-opt further directors to bring additional skills and experience and to provide broad representation across all member categories, as appropriate.

A growing number of firms have also signed up to deliver the Council’s best practice Standards for consumer protection, with membership doubling over the last two years to over 430 firms.

Burrowes said: “The expansion of our board follows a period where equity release has become established as a mainstream financial services product, among the most carefully regulated in the UK, to help finance later life and meet a host of financial and social purposes.

“Our new directors will add to the industry expertise that guides our work. Together with the efforts of our standards board, their efforts will ensure the Council continues to lead the way in raising and standards in the equity release market, to provide the highest level of consumer protection for any property-based loan.”