Just Group has appointed David Richardson as chief executive on a permanent basis.
Mr Richardson replaces Rodney Cook, who in April announced he would step down to plan for his retirement.
He will also be chief executive of the provider’s insurance subsidiaries - Just Retirement and Partnership Life Assurance Company.
He will retain his current roles as managing director of UK corporate business and interim group chief financial officer, until the recently appointed new CFO, Andy Parsons, joins Just.
Mr Richardson was previously chief financial officer of Partnership, which merged with Just Retirement to create Just Group in 2016.
Chris Gibson Smith, Just’s chairman, said: “The strength of our leadership team is a top priority for the board and, following a comprehensive external search, we are pleased to announce the appointment of David Richardson as our group chief executive officer.
“David's leadership is already transforming the group, and making his interim CEO role permanent is a natural step for us to take. Together with Andy Parsons’ arrival as CFO in the New Year means we will have a first-class team in place to lead the group forward.”
Mr Richardson said capital is the group’s number one priority, with its key objective to be “organically capital generative by 2022”.
He added: “We continue to operate good businesses and are well positioned in attractive markets, but we must use our capital base wisely. My job is to maximise shareholder value, with no options excluded.”
Earlier this month Just closed its drawdown product to new clients and deliberately reduced new business across the group to become more capital efficient.
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