Carter, the former sales and marketing director of Norwich Union’s equity release business, replaces Peter Nelson, who is retiring after 12 years with the company.
At Norwich Union, Carter was responsible for the successful launch of its equity release business in 1998, achieving a dominant market share of 39 per cent within two years. He, himself, developed the flexible lifetime mortgage, which has become the industry standard in the equity release sector.
Alastair Lyons, chairman of In Retirement Services, said: “Daren’s appointment marks the next stage in the company’s development. Our direct sales channel is growing strongly and we have acquired leading distribution partners, in particular HSBC, Tenet and Park Row. Under Peter’s leadership, In Retirement Services has grown to become one of the UK’s leading equity release providers, and I thank him for his invaluable contribution. I am also delighted he has agreed to remain with us as a non-executive director.
“Our objective is to become the leading provider of specialist equity release advice. Daren’s experience at Norwich Union, combined with the strength of our existing IRS management team, make us uniquely well placed to achieve this.”
