CII chief optimistic of PFS resolution despite 'painful' times
The Chartered Insurance Institute’s CEO, Alan Vallance, has stressed that it was in the best interest of the Personal Finance Society members to appoint extra directors despite it being a painful choice, in his latest response to the PFS's consultation.
Vallance released a statement on 27 January to members after the PFS’s consultation period came to an end.
The bodies have been bashing heads since the CII decided to put three institute directors on the PFS board just before Christmas and to add another one after consultation giving it a majority.
The CII claimed it made the decision to take over the PFS board due to governance failings that had not been addressed. The PFS refuted the claims, with some voices from the professional body
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