CompaniesMar 14 2012

Ship appoints former shadow pensions minister as chairman

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ByMichael Trudeau

Equity release trade body Ship has appointed Nigel Waterson as Chairman as part of an ongoing restructure.

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.”