The Institute of Risk Management has announced the appointment of Iain Wright, chief risk officer for Europe at Great-West Lifeco, as chairman. Mr Wright has served as deputy chairman since May 2018 and as chairman of the Audit & Risk Committee since December 2016. He takes over from Socrates Coudounaris, executive director of ERM at the Reinsurance Group of America.

Wright's priorities for his period as chair are understood to include the continued integration of the Institute of Operational Risk, which joined the IRM group in 2019; and leading the board and members in the debate over the Institute's potential move to charitable status.

“I am in the fortunate position of being able to build on the good work done by the CEO and the immediately preceding Chairs in stabilising the Institute’s financial position, building a strong Board and starting the next phase of our growth," Wright said. "We are now in a position where we can capitalise on that financial strength to drive towards fulfilling the Institute’s vision”.

“The Institute is at an exciting time in its history, where we can look forward and really make our mark. We will be increasing the diversity and content of our product portfolio, in both qualifications and training. I am particularly keen to see the Institute continue to operate in global markets and expand internationally."

Coudounaris added: “It has been a pleasure and a great privilege to serve the IRM over the past few years. I would like to take this opportunity to personally thank everyone who has put in the hard work and determination to take the IRM into its current position of strength.

"The IRM Group is now looking at a bright future and has the strategy, products, people and proposition to achieve its plans in the very capable hands of Iain Wright.

As an IRM member, I look forward to celebrating its future successes together.”

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