News Article Published:
Tuesday, 10 July 2007
Category:
Insurance
Charles Thomson, Chief Executive of Equitable Life, has been slammed the Faculty of Actuaries after faking the character reference, supposed to be from his former employer at Scottish Widows, that landed him the role at the life assurance company.
Through attempting to market himself falsely to his future employer, the Faculty's adjudication panel found Mr Thomson guilty of bringing the industry into disrepute.
According to Money Marketing, although the panel had originally made their judgment on February 22nd, the outcome of the investigation has only just been published.
This news comes at a time when Equitable Life is already struggling to keep its image positive. The firm has hit the rocks, losing billions of pounds of customer money after Equitable Life nearly collapsed in 2000.
The adjudication panel said: "Such conduct on the part of an actuary, particularly a senior member of the profession seeking a senior position, is prima facie a failure to comply with the standards of behaviour and integrity which the public and profession might reasonably expect of a member," Money Marketing reports.
<< back to latest industry news