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ICAEW appoints seven new board members


Published: 08 May 2024

Implementing a key part of a four-year programme to modernise its governance, ICAEW has today (Wednesday 8 May 2024) announced the appointment of seven new members to its reshaped Board.

The governance review was initiated with the aim of equipping the Institute to deliver on its ambitious vision for the future of the profession while continuing to serve the public interest and support its members.

Of the seven new appointments, six are chartered accountants:

  • Nina Hingorani-Crain ACA (also Audit Committee Chair) 

  • Elizabeth Barber FCA (also Risk Committee Chair) 

  • Simon Peacock FCA (also Investment Committee Chair) 

  • Mary Phibbs FCA

  • Richard Nunn FCA

  • Shamshad Ali ACA

They will take up the positions on the Board currently held by three elected ICAEW Council members and three chairs of departmental boards.

To strengthen the Board’s understanding of perspectives from outside the accountancy profession lay membership will increase from two to three members, with the appointment of Mark Freebairn (also Remuneration Committee Chair). The existing lay members, Mary Hockaday and Malcolm Wood, are re-appointed, and Mary will also become the Board’s first Senior Independent Director.

All appointments are effective from 4 June 2024. Nina, Elizabeth, Mark, Simon and Mary will serve three-year terms, while Richard, Shamshad and Malcolm will serve two-year terms.

Peter Wyman, Chair of the ICAEW Board, said: “I am delighted to welcome our new Board members and I congratulate them on their appointments. They bring a wealth of skills, talents and experience to ICAEW and I very much look forward to working with them. 

“We were very impressed with the quality of the field which these roles attracted, which reflects well on the standing of ICAEW and its role in national life.

“My thanks go to our outgoing Board members - Caroline Smale, Christabel Cowling, Mark Coles, Helen Brennan and Robert Tindle - for their valuable contributions and continued commitment to ICAEW. 

“ICAEW now moves forward with an exceptionally strong and diverse Board, brimming with ideas and enthusiasm. It is well-placed to provide real leadership to the accountancy profession in this country and around the world.”

The reconstitution of the ICAEW Board was a key recommendation from the comprehensive review of ICAEW’s governance launched in 2020. Other recent changes have included ICAEW’s first Chair of Board appointed after an open external recruitment: previously the Board was chaired by the elected ICAEW President. 

The ICAEW President, Chief Executive, Chief Operating Officer and Chief Financial Officer will remain ex-officio members of the Board, while the Deputy and Vice Presidents will be non-voting observers. 

To avoid any potential conflict of interest, no Board member (except for the President) may also be a member of ICAEW Council for the duration of their time on the Board. This means that Richard Nunn will step down from Council at the end of this month. 


Notes to editors

1. ICAEW Board members are:

  • Peter Wyman, Chair of the Board

  • Alan Vallance, ICAEW Chief Executive Officer

  • David Franklin, ICAEW Chief Financial Officer

  • Sharron Gunn, ICAEW Chief Operating Officer

  • Mark Rhys, ICAEW President

  • Mary Hockaday, (Senior Independent Director)

  • Nina Hingorani-Crain (also Audit Committee Chair)

  • Elizabeth Barber (also Risk Committee Chair)

  • Simon Peacock (also Investment Committee Chair)

  • Mary Phibbs

  • Richard Nunn

  • Shamshad Ali

  • Mark Freebairn (also Remuneration Committee Chair)

  • Malcolm Wood.

2. New board member biographies are below:

Nina Hingorani-Crain ACA:

Nina has had a diverse career in the private, public and charity sectors, including Chief of Staff at the Financial Services / Conduct Authority. An ICAEW Chartered Accountant and experienced NED with other appointments at the National Employment Savings Trust, National Savings and Investments, and Oxleas NHS Foundation Trust.

Elizabeth Barber FCA, Risk Committee Chair:

Elizabeth is an ICAEW Chartered Accountant and was Chief Executive of Yorkshire Water until 2022. Previous positions have included Head of Audit for the North of England and Partner at EY. She holds NED appointments at Encyclis, Sizewell C, Renew Holdings, HICL Infrastructure and Cranswick plc, and previously held roles at Yorkshire and Humber Climate Commission and Leeds University. She has also been Chair of the ICAEW Sustainability Committee, a role she will be stepping down from.

Simon Peacock FCA, Investment Committee Chair:

Simon is an ICAEW Chartered Accountant and has chaired the ICAEW Investment Committee since 2021. He is also Chief Executive of the Shipowners’ Club, an insurer of marine liability risks, and was previously Group Finance Director at The Hyde Group, a provider and developer of UK residential real estate.

Mary Phibbs FCA:

Mary’s Non-Executive Director (NED) roles portfolio include Chair at Virgin Money Unit Trust Managers, SID and Chair of the Audit Committee at Just Group plc, and NED and Chair of the Risk Committee at CPP Investments. An ICAEW Chartered Accountant, her career has included senior risk/advisory roles at Allied Irish Banks, ANZ Banking Group, and KPMG.

Richard Nunn FCA:

Richard is based in Canada and is an experienced independent director. He is the Chair of University of Toronto Asset Management Corporation and chairs the Investment Committee and Audit Committee of the Ontario Pension Board. He formerly served as the Chair of the Board of the University of Toronto and the Chair of Halton Healthcare. His professional career was as a Client Service Audit Partner at Deloitte Canada specialising in the financial services industry and while at Deloitte he was Managing Partner, Canadian Financial Services Audit and Assurance Practice. He holds professional qualifications from CPA Ontario, the Institute of Corporate Directors and ICAEW.

Shamshad Ali ACA:

Shamshad is a Senior Advisor to companies and private equity investors.  He was the Chief Transformation and Strategy Officer of Vanquis Banking Group until November 2023 and, prior to that, a partner in PwC’s Deals Practice (London) which is a global leader in advising companies and private equity investors on M&A, strategy, transformation, capital markets & IPO, divestments, restructuring, cost savings and the integration of businesses. He is an ICAEW Chartered Accountant and a lay member of Council at the University of Reading.

Mark Freebairn, Renumeration Committee Chair:

Mark is Head of the Board Practice and CFO Practice at the UK’s largest search firm Odgers Berndtson. He held a non-executive position and chaired the Remuneration Committee at GlobalData Plc and is currently chair of ICAEW’s Remuneration Committee.


Chartered accountants are talented, ethical and committed professionals. ICAEW represents more than 202,000 members and students around the world.

Founded in 1880, ICAEW has a long history of serving the public interest and we continue to work with governments, regulators and business leaders globally. And, as a world-leading improvement regulator, we supervise and monitor around 12,000 firms, holding them, and all ICAEW members and students, to the highest standards of professional competency and conduct.

We promote inclusivity, diversity and fairness and we give talented professionals the skills and values they need to build resilient businesses, economies and societies, while ensuring our planet’s resources are managed sustainably.

ICAEW is the first major professional body to be carbon neutral, demonstrating our commitment to tackle climate change and supporting UN Sustainable Development Goal 13.

ICAEW is a founding member of Chartered Accountants Worldwide (CAW), a global family that connects over 1.8m chartered accountants and students in more than 190 countries. Together, we support, develop and promote the role of chartered accountants as trusted business leaders, difference makers and advisers.

We believe that chartered accountancy can be a force for positive change. By sharing our insight, expertise and understanding we can help to create sustainable economies and a better future for all.