Alan brings extensive financial services experience across insurance, banking and investments. He is currently Chairman of Permanent TSB Group in Dublin and until 31 December 2016 was Deputy Chairman of Sainsbury’s Bank and on the board of Met Life Europe. Previously Alan has served as Chairman of Irish Life Group and the Highways Agency as well as being a Non-Executive Director at the Financial Ombudsman Service and Office of Fair Trading. He has also been CEO of Post Office Ltd, National Savings & Investments and Chief Operating Officer, UK and Europe of Prudential Assurance.
Mark Austen, LV= Chairman, said: “Having appointed Richard Rowney as Chief Executive last June I believe that June 2017 is a natural time for me to stand down from the board. It is a testament to the strength of LV= that we have attracted someone of Alan Cook’s pedigree to take over as Chairman, and his broad retail financial services experience will be a real asset to the Society.
“It has been a privilege to serve on the board for the last ten years. I am immensely proud of the transformation of LV= into the successful and profitable mutual that it is today, a business with a special place in the financial services market. I very much look forward to working with Alan over the next six months to ensure a smooth and orderly handover.”
Alan Cook, said: “LV= has a strong and well respected reputation built up over many years and I would like to acknowledge the considerable contribution Mark Austen has made to the Society. Mutual organisations like LV=, with their values and longer-term view, have an important role to play in today’s volatile financial world and I look forward to working with my board colleagues to continue delivering value for our members and customers.”
Notes to editors
Alan Cook CBE is currently Chairman of Permanent TSB Group Holdings plc, Chairman of the University of Bedfordshire and a Patron of Action for ME.
About LV=
LV= serves over 5.8 million customers with a range of financial products. We are the UK’s largest friendly society and a leading financial mutual.
When we started in 1843 our goal was to give financial security to more than just a privileged few and for many decades we were most commonly associated with providing a method of saving to people of modest means. Today we follow a similar purpose, helping people to protect and provide for the things they love, although on a much larger scale and through a wide range of financial services including insurance, investment and retirement products.
We offer our services direct to consumers, as well as through IFAs and insurance brokers.
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. LVFS is a member of the ABI and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.