Andy is expected to join within the next six months from Lloyds Banking Group where he is currently CEO of general insurance, having previously been CEO of Scottish Widows. This follows a nineteen year career at Prudential.
Trevor has concluded that, in view of his personal intention to return with his family to Australia within the next three years and the substantial agenda of work ahead, a new CEO should be appointed to lead the business through an anticipated return to direct public market ownership while he focuses on furthering Friends’s presence and reputation in the marketplace.
Commenting on Andy’s appointment Sir Malcolm Williamson, chairman of Friends said: “There are a number of huge challenges and opportunities facing the UK life assurance industry and a significant agenda of work in creating value from Resolution’s life consolidation project. The project is making strong progress and I am looking forward to continuing to work with Trevor as vice chairman and with Andy who, as the CEO, will take the business through to a successful realisation of value for Resolution’s shareholders.”
John Tiner, CEO of Resolution Operations LLP, said: “We are immensely grateful to Trevor for the work he has done at Friends and are pleased that he will continue with the group. We are also fortunate to have found someone with the skills Andy brings to Friends as we move from the acquisition phase to integration and maximising the value from the assets Resolution Limited has acquired.”
