View more on these topics

Phoenix Group hires Clive Bannister as chief exec

Clive Bannister is to replace Jonathan Moss as chief executive of Phoenix Group.

Bannister, formerly group managing director of insurance and asset management at HSBC, joins Phoenix today as group chief exec.

In a statement this morning, Phoenix says the board has agreed with Moss “that this is the right time for there to be a change of leadership”.

Phoenix says it is still on track to deliver on its 2010 financial targets, including cash generation at the top of its target range of £625m-£725m, and says it is well positioned to participate further in the consolidation of the UK’s closed life sector.

Phoenix Group has eight closed life brands including Phoenix Life, Pearl Assurance, London Life, NPI and Scottish Mutual.

Phoenix Group chair Ron Sandler says: “Clive has the leadership and strategic skills that are needed to realise the very considerable opportunities that we see for Phoenix Group, and to ensure that the interests of our six million customers are properly looked after. The Board is very grateful for the commitment and leadership of Jonathan Moss through an extraordinary period for the Company and we wish him the very best in the future.”

Bannister says: “We are in an excellent position to improve service and returns for our policyholders through the further development and growth of our unique operating platform and thereby to realise value for shareholders.”

Recommended

Pattullo: Interest rates to rise in May

John Pattullo, the head of retail fixed income at Henderson Global Investors, looks back at the fixed income markets in the last few weeks and discusses the positioning within his funds. Video: Pattullo: Interest rates to rise in May

5

Should the Government scrap mortgage stamp duty?

New director of the Institute for Fiscal Studies Paul Johnson says stamp duty on housing “gums up” the market and should be scrapped. Speaking to Money Marketing, Johnson says the tax on house buys discourages people from moving. He says: “I do not think there should be stamp duty on housing transactions. It creates significant […]

MarkFawcett

Nest picks mandate managers

The National Employment Savings Trust has chosen UBS, State Street Global Investors and BlackRock to manage the five investment mandates to be used by the scheme’s default fund. The passive global equities mandate has been handed to the UBS life world equity tracker, a fund which tracks the FTSE All-World Developed index. State Street will […]

Simon Fletcher

Auto-enrolment: pay attention or pay the price

By Simon Fletcher

As a chief executive officer of a business in the financial services sector, I have been dealing with the introduction of auto-enrolment for our clients for some time, but I can also speak from an employer’s point of view, having to go through the process ourselves.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com