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Phoenix names new chairman

Boardroom-Hire-Hiring-Appointment-General-700x450.jpgPhoenix has appointed Nicholas Lyons as its new chairman.

Lyons was formerly a non-excutive director at Friends Life before it was acquired by Aviva, chairing its remuneration committee.

After starting his career in the debt and equity capital markets team at JP Morgan, followed by a stint at Lehman Brothers, Lyons has had a portfolio of roles across insurance and investment firms including chairing Miller Insurance Services and Longbow Capital.

Lyons is currently senior independent director at the Pensions Insurance Corporation, and will join Phoenix on 1 September.

Phoenix recently acquired Standard Life’s UK and European insurance arm.

Standard Life Aberdeen pensions and savings business chief executive Barry O’Dwyer and global distribution head Campbell Fleming have joined Phoenix’s board in the wake of the deal.

Phoenix also acquired Axa Wealth’s pensions and protection business in 2016 as it attempts to innovate on its back-book business model with services to cash out small pension pots and annuities.

Current Phoenix chairman Henry Staunton says: “Nicholas is a tremendous choice to be my successor. He recognises the potential that the group has following its impending acquisition of Standard Life Assurance, and he has extensive experience in the life sector.”

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