FRC welcomes Elizabeth Corley and Nick Land as new Non-Executive Directors
News types: Staff/Board Announcements
Published: 14 March 2011
Elizabeth Corley is Chief Executive of Allianz Global Investors Europe, having joined the company in April 2005. Nick Land is the Chairman of the Audit Committee of Vodafone Group PLC and Alliance Boots, and was UK Chairman and Chief Executive of Ernst and Young from 1995-2006.
Commenting on the appointments, FRC Chairman Baroness Hogg said,
“It is an enormous pleasure to welcome two new board members who bring such a depth of expertise from their respective fields of international business and accountancy practice.
“As the European CEO of a global asset management business, Elizabeth Corley will further improve the FRC’s insight into the needs of institutional investors as we continue to gain international support for the Stewardship Code. Elizabeth’s European experience will be particularly important as we negotiate with Brussels on corporate governance issues in the coming year.
“Nick Land serves in senior roles on the boards of several large listed companies. His experience as an Audit Committee chairman and senior independent director will be particularly valuable as the FRC responds to proposals in the UK and Brussels on the future of corporate reporting and audit.
“The FRC draws great strength from its board and I look forward to working with Elizabeth and Nick in the years ahead”.
Notes to Editors
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The Financial Reporting Council is the UK’s independent regulator responsible for promoting high quality corporate governance and reporting to foster investment.
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Elizabeth Corley is Chief Executive Officer of Allianz Global Investors Europe. She joined the company in April 2005. In October 2005, Elizabeth became a member of the Management Board of Allianz Global Investors AG, the global management holding company of Allianz’s asset management business. In January 2008, Elizabeth also assumed responsibility for Allianz Global Investors Germany. Prior to joining Allianz, Elizabeth spent eleven years working at Merrill Lynch Investment Managers (formerly Mercury Asset Management) in various positions. She became Managing Director and Head of the EMEA Asia Pacific Mutual Fund Business as well as Member of the Boards of MLIM UK Ltd., Merrill Lynch International Investment Funds, and others. She is a fellow of the Royal Society of Arts and is also an acclaimed writer.
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Nick Land is a non-executive director and chairs the audit committees of Vodafone Group plc, Alliance Boots GmbH, BBA Aviation plc and the Ashmore Group plc. At BBA Aviation and Ashmore he is the Senior Independent Director. He retired as Chairman of Ernst & Young LLP in 2006 after a career spanning 36 years with the firm. He was elected Chairman in 1995 and was also a member of the Global Executive Board. In 2000 he also became Managing Partner of the Northern Europe, Middle East, India and Africa Area. He is chairman of the board of trustees of Farnham Castle and of the VodafoneGroup Foundation. He is also a member of the National Gallery’s Finance and Audit Committees.
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Elizabeth Corley and Nick Land will take up their positions as Non-Executive directors of the Financial Reporting Council on 1 April 2011.