AFM launches to improve governance

by Marc Shoffman, for Financial Times Advicer, January 7, 2010.

The newly formed Association of Financial Mutuals has vowed to improve corporate governance and grow the sector in the next year.

The Association of Friendly Societies and the Association of Mutual Insurers officially merged at the turn of the year to form the AFM trade body, pledging to represent the interests of the UK’s financial mutuals sector.

Martin Shaw, previously general secretary of the Association of Friendly Societies, has been appointed as chief executive while Mike Yardley, chief executive of Royal London Group, will be the group’s Chairman. Further appointments will be announced in the coming months.

Martin Shaw, chief executive of the Association of Financial Mutuals, said the new organisation’s goals included influencing the manifestos of the main political parties ahead of the general election, protecting and promoting the values of the mutual sector and responding to the retail distribution review proposals…(continue reading)

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