Royal London subsidiary Scottish Life International has appointed David Kneeshaw as chief executive.
The move is part of a change of focus for the group, which is hoping to expand beyond its offshore business into new areas of the UK savings market. Kneeshaw will replace Mike Hicks, who is standing down from the role.
Kneeshaw is currently Royal London group business director. He joined the group in July 2002 from Swiss Life, where he worked in a group development role after running the UK individual business for 10 years.
He will report to Royal London's intermediary businesses chief executive Brian Duffin.
SLI had funds under management of $1.1bn at the end of September but is looking to expand its offering into the UK after depolarisation. It wants to concentrate on simple savings products for the IFA market that will offer clearly defined returns.
Kneeshaw says: “The large multi-ties and banks will have a need for these simple products after depolarisation and they will not be building them themselves. Personally, I think this is a great opportunity particularly in the UK, where we hope to expand significantly. I am not an accountant, I am a business-grower, not a cost-cutter, and intend to keep growing this business.”