Responsible Lending has appointed Tim Waterlow as its new development director.

Waterlow (pictured) joins the equity release provider as an executive director after a long career in financial services, including the position of head of sales and operations at AXA Sun Life.

More recently he ran a boutique financial services distribution consultancy.

In the newly created post, Waterlow will support managing director Keith Haggart and the board to achieve sustainable growth, create relationships with new distribution partners and assist with bid tenders for new business.

Steve Wilkie, chairman of Responsible Lending, said: “The equity release market almost nudged £4bn in 2018 but this is just the tip of the iceberg. As product numbers have increased and competition sharpened, the customer has reaped the benefits, creating a virtuous circle.

“The next step for the industry is to grow the market to where we know it can be and cement our market share by delivering great products with excellent customer outcomes.

“Tim’s financial services distribution experience is second to none and we look forward to welcoming him into this executive position.”

Waterlow added: “I’m delighted to be joining the board of one of the most dynamic and fastest growing businesses in the later life lending space. This is an incredibly exciting time to be in this market as we innovate to meet the challenges facing consumers in and reaching retirement.

“Collaboration between like-minded organisations is essential for us to deliver for consumers and take advantage of the opportunities that exist. I am very much looking forward to playing my part.”