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Duffin to leave ScotLife in reshuffle

Scottish Life chief executive Brian Duffin is leaving the firm at the end of March as part of an overhaul of the business.

Parent firm Royal London has created a new division that will oversee all of its IFA businesses to be headed by John Deane, who joins from Old Mutual in April next year.

Deane will have overall responsibility for each of Royal London’s IFA businesses – Scottish Life, Bright Grey and Scottish Life International.

In the interim, Royal London group chief executive Mike Yardley will take the reins at Scottish Life.

As part of the reshuffle, Royal London Asset Management chief executive officer Andrew Carter is joining the Royal London Group board.

Duffin has not said why he will be leaving but says that after 30 years of service he is happy to step down as part of the reorganisation.

Yardley says: “John has an excellent track record of developing profitable businesses and I am confident this appointment, heading our newly formed IFA Division, will enable us to accelerate the growth of our businesses for the benefit of members.”

Duffin says: “Scottish Life, Bright Grey and Scottish Life International have prospered on the recommendations of financial advisers and I am sure they will continue to do so.”


Equitable in talks to sell annuity book

Equitable Life is in early-stage discussions with a number of parties about selling its £2bn withprofits annuity book as part of its latest restructuring. Pearl Assurance is believed to be one of the interested parties.

Sing for your supper

I have been reflecting on my letter in your November 30 edition and Nic Cicutti’s thought-provoking piece in your December 7 edition. It strikes me that there is plenty of scope for financial advisers to receive payments that are disproportionate to the amount of work they do for their clients by way of fund-based renewal […]


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