Carter was previously product marketing director at MetLife, where he was responsible for developing the firm’s guaranteed product range.
In his new role Carter will focus on developing MGM’s existing products.
He says: “The retirement income market presents a unique set of challenges at the moment; perceived poor value from annuities, low awareness of enhanced annuities, the need to shop around, increased regulatory scrutiny, volatile inflation and a low interest rate environment.
“My initial focus will be on developing the existing products to meet these challenges. I look forward to working with colleagues to deliver innovative solutions which meet customer needs while supporting the ambitious growth plans of the group.”