Royal London has appointed Phil Loney as group chief executive.
Loney will join the mutual life and pension company from Lloyds Banking Group, where he is currently managing director of life, pensions and investments. He is expected to start his new role in October “at the latest”.
Loney says: “In the present economic environment, with the financial services sector facing rigorous scrutiny, customers need a strong and innovative mutual insurance sector.
“I’m looking forward to working with the team to define and implement the next stage of strategic development for the business.”