The Institute and Faculty of Actuaries (IFoA) has announced the appointment of Lord Currie of Marylebone as the first-ever chair of the newly set up IFoA board, effective immediately. Lord Currie’s term as chair will initially last for three years.
In his new role, Lord Currie is tasked with guiding the recruitment process for the board’s vacancies, which include positions for two independent non-executive directors (iNEDs) and four member non-executive directors (mNEDs). The completed IFoA board will comprise five mNEDs, three iNEDs (including Lord Currie), and the chief executive. The aim is to have the board’s non-executive directors confirmed by the time of the IFoA annual general meeting on July 24.
Bringing more than 20 years of experience, Lord Currie is well-versed in governance and regulatory affairs. A cross bench member of the House of Lords, Lord Currie currently chairs the Advertising Standards Authority while being a council member of the European Policy Forum.
Previous roles include being the founding chair of both Ofcom (the UK’s Office of Communications) and the Competition and Markets Authority, in addition to his time as chair at the University of Essex and the Alacrity Foundation. Lord Currie’s credentials also span non-executive board positions with Royal Mail Group and the Dubai Financial Services Authority.
Kalpana Shah, president and one of the mNEDS of the IFoA, commented in an emailed release: “The appointment of Lord Currie as chair of the new IFoA board is a significant milestone in our new governance reforms, which are designed to modernise the IFoA and ensure that it continues to serve both the needs of its members and the wider public interest.
“Not only does Lord Currie bring with him extensive non-executive experience, but he has been a founding chair at both Ofcom and the Competition and Markets Authority, so he is ideally placed to establish our new board and build the foundations for its future success.”
Lord Currie shared his enthusiasm, stating: “I am honoured to have been appointed chair of the IFoA board, and I am looking forward to establishing a board that combines the best of talent from within the actuarial profession with high-calibre independent directors that will provide valuable skills and alternative viewpoints to the organisation.
“In an increasingly uncertain world, the unique skillset of actuaries has never been needed more, and I am determined to build the board that the IFoA and the wider profession deserve for their future sustainable success.”
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