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O’Dwyer to head life and pensions at Pru

Prudential has appointed Barry O’Dwyer as managing director of retail life and pensions.

O’Dwyer will join the company in January from HBOS Financial Services where he is products and marketing director, responsible for investment, pensions and protection products through the Halifax, Bank of Scotland and Clerical Medical brands.

He previously worked at Standard Life for 19 years, most recently as managing director for UK marketing. O’Dwyer replaces Gary Shaughnessy who left Prudential in September to join Fidelity as UK retail managing director.

O’Dwyer says: “I am delighted to be joining Prudential UK. Its strong brand, great products and clear strategic focus will ensure that Prudential capitalises on the huge opportunity in the rapidly growing retirement market.”

Meanwhile, Friends Provident has appointed Evelyn Bourke as chief financial officer, subject to regulatory approval. She joins from Standard Life UK, where she held the same post. She will move to Friends after a six-month notice period. Charles Bellringer will remain interim CFO until then.

Friends Provident chief executive Trevor Matthews says: “Having worked with Evelyn at Standard Life, I know she has the drive and energy as well as the broadly based financial services experience that makes her ideally placed to support me in maximising the business opportunities for Friends Provident.”

In other moves, Old Mutual’s group finance director Jonathan Nicholls has decided to leave the firm to pursue interests outside the sector and will be replaced by former finance director at Prudential Philip Broadley.


Ian Pearson to talk at AIFA dinner

The Association of Independent Financial Advisers has announced that Economic Secretary to the Treasury Ian Pearson will be the keynote speaker at its AGM and Annual Dinner in London next week, replacing Kitty Ussher MP.

Pensions under pressure

Pension funds are being artificially supported by unusually high corporate bond yields and may turn out to have much bigger liabilities than is being revealed. Deficits are likely to get even wider as equity markets recover. One pension consultant claims that pension deficits among FTSE companies are being underestimated by some £160bn.

Benefits - thumbnail

Global benefits predictions for 2015 from Jelf International

According to Doug Rice, managing director of international services, in 2015, managing their international duty of care will become an increasing focus for UK-based overseas organisations in both managing their short- and longer-term challenges. As a result, strong independent advice and innovative technological solutions will become more important than ever in managing their global benefits.


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