CII chief doubles down on PFS governance failures

Alan Vallance issues detailed statement on PFS saga

Jenna Brown
clock • 3 min read

As the Personal Finance Society (PFS) member consultation on its strained relationship with the Chartered Insurance Institute (CII) closed on Friday (27 January), the latter organisation’s chief executive (CEO) shared his opinion on the long-running fallout between the two bodies.

In a statement to members, CII Group CEO Alan Vallance (pictured) detailed the organisation's side of the story which he said was focused on governance failings at the PFS - not the financial position of the CII. The bodies have been at loggerheads since the CII moved to put three institute directors on the PFS board just before Christmas. The CII claim it made the decision to take over the PFS board due to governance failings that had not been addressed. The PFS refute the claims, with some voices from the professional body claiming the move is related to getting access to the PFS's ...

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