Foley will develop new products for the over-55s market and manage its existing range, while she will also take responsibility for Stonehaven’s compliance with regulation.
Tom Evans, managing director of Stonehaven, said: “Her experience in the finance industry coupled with the expertise of our existing team will help to place us at the forefront of product innovation and allow us to continue to deliver a first-class service to our customers.
“Equity release products have become much more mainstream over the last few years.
“The changes to the pensions market expected next April mean that its now more important than ever for equity release providers to continue to develop flexible products which suit the ever-changing needs of the over-55s market.”
Foley trained as a chartered accountant and chartered tax consultant with Deloitte in Dublin; she has six years of post-qualification experience and spent most of this time heading up various finance teams in Luxembourg for Resolution Property and Intertrust.
She has also sat on the boards of Brookfield Asset Management and AOL and large private equity funds such as Global Infrastructure Partners.
Foley added: “I’m really excited to be joining the Stonehaven team.
“The equity release market continues to gain momentum and is growing exponentially.
“As we move into 2015, I look forward to supporting the development of innovative and flexible products against the backdrop of an increasingly-dynamic retirement environment.”