Gorbutt-Powell (pictured) has worked in financial services for over 20 years, including banking and broker networks in mortgages and protection, working in compliance functions. Her previous roles include positions at RBS Group, including NatWest, HSBC, and Lloyds, before moving into the intermediary sector with broker networks such as Mortgage Advice Bureau (MAB) and HLPartnership.
She will report to Kelly Melville-Kelly, deputy chief executive and director of risk, policy and compliance, and will work closely with Laura Gibson, head of membership and engagement, and Tom Brett, head of commercial and business development.
The council said her appointment comes at a pivotal time as it expands its remit across the later life lending market.
Jim Boyd, chief executive of the Equity Release Council, said: “Tracy’s extensive experience across lender and intermediary markets, combined with her compliance expertise, will strengthen our governance and support the next phase of our growth. Tracy’s appointment ensures we continue to uphold the high standards and protections that define our market.”
Last month, the Financial Conduct Authority (FCA) launched a market study of the later life lending market to consider whether changes are needed to lifetime and retirement interest-only (RIO) mortgages.
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The regulator will join later life advisers, lenders and industry professionals at the Equity Release Council’s Later Life Lending Summit in April to host a session.
