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ABI director quits for FRC

Steve Dinneen
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THE Association of British Insurers (ABI)’s director of investment affairs is to stand down after a decade at the institution.

Peter Montagnon will take up a new role as senior investment adviser to the Financial Reporting Council (FRC).

Montagnon said: “After nearly a decade in this role, now is the right time to take up a new challenge. It has been a privilege to represent the ABI’s members and play a leading role in driving forward higher standards of corporate governance and I look forward to continuing this work at the FRC.”

Archie Kane, chairman of the ABI, said: “Peter Montagnon has made an invaluable contribution during his decade at the ABI, representing shareholders on a range of issues, both in the UK and internationally. On behalf of the ABI Board I would like to thank him for his hard work and wish him all the very best in his new role.”

ABI members currently own 15 per cent of the UK listed market, the single largest group holding of UK equity.