12 November 2014 Insurance

EY advisor boosts REG board

The online due diligence platform for broker/agency management, Regulatory Efficiency Gains (REG), has appointed Malcolm Le May as a non-executive director.

Le May is a corporate financier with over 35 years experience in banking, asset management and insurance. He was previously co-head of banking in the US for Barclays Bank, head of investment banking in Europe for UBS and global head of corporate and investment banking at ING.

He was deputy chief executive officer (CEO) at Morely Fund managers (now Aviva Investors) and president at JER Partners, a pan European real estate private equity firm. For ten years he was a non-executive director of RSA where he chaired the investment Committee and sat on the Group’s Risk and Remuneration Committees. He is currently a senior advisor to EY, the professional services firm and is the senior independent director of Pendragon and of Provident Financial.

Le May said: “Broker/agency management is one of the residual paper-based and manual processes in the Insurance Industry that is inefficient and rife with potential for regulatory failure. REG is a solution that is both disruptive and transformational and I look forward to focussing on financial and sector strategic matters at the Board and helping the company become an industry standard.”

Michael Phair, CEO of REG, said: “As we are seeing an increasing number of insurers and brokers benefit from our systems, it is good that REG also continues to grow. Malcolm brings a wealth of experience and expertise that REG will directly benefit from. Following the recent launch of the “REG Alerts” offering, I look forward to Malcolm’s advice and counsel in managing our growth and services.”

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