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.
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'
Stephen Mills joins the Manchester office from IBM, where he spent 12 years as an associate partner in the data, analytics and cognitive consulting group
Rupert Guppy will be responsible for capital allowances in the southern region, and joins the firm from specialist consultancy E3 Consulting
Richard Lewis has been appointed to the firm's restructuring and recovery services team