14 April 2009

Clerical Medical Appoints Independent Chair to Investment Committee

Clerical Medical has appointed Patrick Gale as Independent Chairman to its investment committee.

Clerical Medical's investment committee was established last year, to ensure the success of Clerical Medical's Investment Solutions. It is responsible for governing fund performance and reporting back to IFAs on performance.

Having an independent chairman for the committee brings many advantages when it comes to fund governance. It is also a clear sign of the committee's independence to advisers and customers.

Patrick has been an independent member of the committee since February 2008. Prior to that he launched Sesame's IFA network. He brings outstanding experience and calibre.

In addition to Patrick's appointment, John Van Der Wielen, managing director of Clerical Medical and Halifax Life, has also joined the committee.

The committee is now made up of the following members:

Phil Clements, head of investments at Clerical Medical said:

"Appointing Patrick as independent chairman builds upon the robust fund governance that we announced last October as part of the new investment committee. It gives the committee an independent stance to evaluate the funds at arms length. The committee's reputation within the industry is becoming well established and this appointment will be another step forward."

Further details about the investment committee members:

Patrick Gale, Chairman, Non-Executive Director of HBOS Investment Fund Managers Limited

A non-executive director of HBOS Investment Fund Managers Limited, Patrick is one of the financial service industry’s most influential figures. He brings outstanding experience and calibre, having launched Sesame – the IFA network - which he piloted through a period of immense change.

John Van Der Wielen, Managing Director

John Van Der Wielen has been confirmed as managing director of Clerical Medical by Lloyds Banking Group. He joined Clerical Medical in December 2007 from HBOS Australia where he was CEO of the Insurance and Investment Division. John joined in 1998, when he was appointed managing director of the St Andrew's Insurance business.

Phil Clements, Head of Investment

Phil has over 20 years’ investment experience managing funds for leading investment managers, including Henderson Global Investors, Hill Samuel and AMP Asset Management, as well as time spent with a leading investment adviser.

Paul Turnbull, Chief Actuary

Paul advises the Investment Committee on all actuarial aspects of financial management such as asset liability management, treating customers fairly, reporting, financial risk and the management of unit funds. Previously a partner at Watson Wyatt, Paul was the Appointed Actuary for UBS Life and has also worked at Allied Dunbar.

Keith Jones, Independent Member

Keith is a widely respected commentator on financial service industry issues and currently holds a number of other directorships in Investment Management and Investment Banking. As an ex-CEO of Morley Fund Management, a previous chairman of the ABI Investment Committee and member of the Investment Management Association (IMA) board, Keith offers a wealth of experience in the investment management industry and in management of rapid change and growth.

About Clerical Medical

Clerical Medical, founded in 1824, is an award-winning provider of pensions, investments and onshore and offshore investment bonds. Products are provided to consumers through independent financial advisers.

www.clericalmedical.co.uk – media zone