Equitable Life’s chairman and chief executive were urged to quit yesterday
over their failed attempt to extract more than £2bn from Ernst & young in a
negligence action over the society’s near-collapse.
Policyholders at the Annual General Meeting called on chairman Vanni Treves
and chief executive Charles Thomson to stand down after the high-profile trial
collapsed with both sides agreeing only to pay their own costs.
‘The legal advisers we had should be fired, the chairman and chief executive
should resign as I reckon they have cost the society £300m,’ one policyholder
told the meeting, the Daily Telegraph reports.
Thomson received 60% of his performance bonus last year in spite of the
collapse of the case.
Equitable had tried to claim that E&Y had failed to make appropriate
provisions for various liabilities that grew hugely in value in the late 1990s.
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars