Former Conservative MP David Burrowes has been appointed chairman of the Equity Release Council (ERC).
Mr Burrowes will replace outgoing chairman Nigel Waterson in December.
He previously served as the Conservative MP for Enfield Southgate from 2005 to 2017.
He is known for having championed consumer protection on issues including legal and medical services, and having led campaigns for improved social and end-of-life care.
He also worked on behalf of his constituents on issues relating to pensions and financial services products, liaising closely with ministers, regulators, banks and the Treasury select committee chairman to protect consumer interests via active membership of a number of All Party Parliamentary Groups.
During his parliamentary career, Mr Burrowes served as Parliamentary Private Secretary to three cabinet ministers, worked across the Cabinet Office and the Department for Environment, Food and Rural Affairs, and sat on the influential Home Affairs and Public Accounts Select Committees.
He also brings considerable legal expertise to the role, having been Shadow Justice Minister from 2007 to 2010 and a practising solicitor for 23 years.
Outgoing chair Mr Waterson has been at the helm of the ERC for almost six years, during which membership has soared from 20 firms to 213 firms.
His successor will assume the role at a time of sustained growth for the market, with trends suggesting the sector could surpass £3bn in annual lending for the first time across 2017.
Mr Burrowes said: “I am excited by the opportunity to work on behalf of the sector and will put the best interests of the consumer at the core of our future work.
"I hope to use my experience gained in parliament to further this cause and to build the profile of equity release with a diverse range of stakeholders across industry, government and regulators.
Mr Waterson said: “With an excellent reputation to date as a dedicated campaigner, lawmaker and influencer, David has all the right attributes required to lead the council on the next stage of its journey and I congratulate him warmly on his appointment.”
simon.allin@ft.com
