The CII coup appears to be happening
Join our mailing list for immediate updates and actions
It has been around a year since the last actions of ourpfs.co.uk, with a general feeling that issues between CII and PFS were in the process of being resolved.
Unfortunately, this has been blown wide open again thanks to incredibly questionable actions taken by the Chartered Insurance Institute on 1st October 2024.
Companies House shows a raft of new appointments to the PFS board.
- Matthew Hill, current CEO of CII
- Gill White, former interim CEO and current executive director of CII
- Matthew Mallett, current executive director of CII
- Trevor Edwards, current executive director of CII
- Christine Elliot, independent chair
How is it possible that employees and executive directors of a related body – a body which owes the PFS over £10M via intercompany debts – not be immediately conflicted.
At this stage, we would like to remind all new appointees of their absolute fiduciary responsible to the membership of the PFS, as per the articles of association and UK company law.
OurPFS is urgently investigating and will be writing out with more details as soon as they are known. October 2024 may well turn out to be the month that defines the future of our professional body.
The video below is a clip from the 2023 PFS AGM, where the first independent chair to be appointed said the following:
“Historically, the [Chartered Insurance] institute was appointing their full-time employees, who weren’t necessarily particularly skilled in governance, and obviously have found it very difficult to take an independent view.”
How will the newly appointed employees handle this inherent conflict of interest?