Former Equity Release Council director general Andrea Rozario, who joined Bower in July to conduct a strategic review, has also moved into an executive role as chief corporate officer.
King, who has championed the equity release cause for the majority of his 30 years spent in financial services, was most recently managing director of equity release provider More2Life from 2010 to 2013, overseeing a four-fold increase in business volumes.
Prior to that he was managing director of Hodge Lifetime from 2000 to 2010, while during that period he also served as chief executive and chairman of Safe Home Income Plans.
Geoff Charles, chief executive of Bower Retirement Services, said: “It is a massive coup for Bower that we have been able to attract an individual of Jon’s calibre to chair the firm and oversee the next stage of its development.
“He has spent close to two decades in the equity release sector and his experience operating on the advisory side of proceedings in addition to as a provider and on a trade body panel gives him great insight into where the market has come from and where it is headed.
“When you consider we are already able to call on the considerable expertise of Andrea Rozario we have been able to assemble an enviable executive team that will help us grow from strength to strength.”
In his early career King worked for likes of National Mutual Life Assurance, Clerical Medical Investment Group, Pearl Assurance, Ecclesiastical Insurance Group and equity release advisory firm Hinton & Wild.
King added: “The equity release market has enjoyed a strong year and will grow further in future as older homeowners continue to wake up to the benefits it can bring.
“I have seen the sector evolve to adapt to consumer requirements and it has become an essential component of the retirement industry.
“Joining Bower at an exciting time in its development was too good an opportunity to turn down and I look forward to maintaining its position as one of the pre-eminent independent equity release advisory firms and helping it grow further.”
