Equitable Life's chief finance and investments officer Charles Bellringer has resigned after just si...
Equitable Life's chief finance and investments officer Charles Bellringer has resigned after just six months on the Society's executive board of directors.
Initial suggestions are Bellringer will leave with a six-figure sum, having just published Equitable's interim accounts and completed the compromise scheme earlier this year.
Company officials says "he wishes to find a new and wider challenge in corporations undergoing major change".
Charles Thomson, Equitable Life's chief executive, says: "We still have a number of issues ahead as we seek to stabilise further the with-profits fund and reduce our costs. Charles Bellringer has played an important role in delivering the successful compromise scheme and in helping to reconstruct the Society's business. We thank him for his substantial contribution and we wish him well for the future."
Bellringer's successor is in the process of being organised, says the beleaguered life company.
£300bn of liabilities
View from the front row
Transfer from occupational scheme
Appointed by FCA and PSR boards