Quick Info:
Ferran made a decent life doing unsavoury business for The Noose, and side hustles. In attempts to escape this life, Ferran chose to ‘borrow’ one of Orven Veyl’s ‘faces’, and fake his own death.
The Noose couldn’t kill Ferran Quiill, as he was ‘already’ dead. And, they couldn’t kill Lord Elric, as he was dead too. - At least, this was Ferran’s logic, flawed though it may be.