Former Partnership chief executive Steve Groves has joined equity release firm Retirement Bridge Group as chairman.
Groves left Partnership earlier this year following its merger with Just Retirement, after 10 years with the provider.
He joins Retirement Bridge Group following the acquisition of the company from Grainger by property management firm Patron Capital Partners and private equity firm Electra Partners.
Retirement Bridge manages over 5,000 home reversion plans, including those originated under the Bridgewater brand.
Patron Capital founder and managing director Keith Breslauer says: “Steve’s appointment represents a significant hire for Retirement Bridge.
“Steve brings a wealth of experience in the insurance and equity release sector and will work with the senior management team, led by chief executive Paul Barber, to optimise the return from the existing portfolio and explore opportunities for growth.”
Groves says: “With significant recent investment from Patron and Electra, this is an exciting time to be joining Retirement Bridge.
“The company has a strong existing portfolio and I look forward to working with the team to grow the business further.”
Source: Money Marketing