BRIDGEWATER Equity Release has appointed PETER COUCH as managing director.

Bridgewater is a subsidiary of Newcastle plc the Grainger Trust.

Mr Couch, who was previously managing director for AMP Retirement Services and later an independent consultant specialising in equity release, has also been appointed director of equity release for Grainger's group-wide equity products.

Mr Couch spent ten years at AMP before setting up his own consultancy and initially joined Grainger Trust as a consultant, offering strategic advice on the growth and development of Bridgewater.

Rupert Dickinson, chief executive of the Grainger Trust, said: "We are incredibly excited by the opportunities presented by this sector of Grainger Trust's business.

"Diminishing pension returns and the prospect to crystallise some of the increase in value of homes has both raised the profile and demand for Bridgewater's product."