Formally taking his position on 1 April 2012, Mr Waterson was previously shadow pensions minister for seven years during his 18-year stint as a conservative MP. His appointment follows the retirement of Laurie Edmans.
Initially, Mr Waterson will focus on helping the organisation transform from a provider focused body to one representing the entire equity release industry.
Mr Waterson said: “This is a historic moment of opportunity for equity release - to boost incomes in retirement, fund long term care costs, and generally support a comfortable older age for many of our citizens.
“I am delighted to be involved in launching the new and reinvigorated organisation, and helping the industry meet these vital challenges.”
