Pensions  

Phoenix appoints MD of pensions business

Phoenix appoints MD of pensions business

Phoenix Group has appointed Colin Williams as managing director of pensions and savings, as it looks to grow the business.

Mr Williams was most recently managing director of Aviva’s workplace savings and retirement business as well as its financial advice business.

He also played an “integral role” in driving the growth of Aviva’s Master Trust proposition.

Prior to this, he held executive level positions in Friends Life, Axa Corporate Benefits, Fidelity International and Prudential Assurance.  

In addition, he was a non-executive director of Sesame Bankhall Group. 

Mr Williams will take up his role at Phoenix in June 2021.

Mr Williams said: “I believe Phoenix has a great business model, a clear strategy and a talented management team, which uniquely positions Phoenix to meet the growing and more complex needs of customers, regardless of whether they are saving through their workplace pensions or through individual savings.”

In Summer last year (August 5), Phoenix restructured its business model and created five new divisions in order to drive growth in its pensions business.

The five divisions form part of its Open business arm, which manufactures and underwrites long-term savings and retirement products, and runs alongside its heritage arm and newly acquired ReAssure business.

At the time, Phoenix appointed Aviva’s Tom Ground as managing director of its retirement services business unit.

Phoenix Group bought Standard Life Aberdeen’s insurance arm in August 2018 for £3.28bn.

Standard Life Assurance was put up for sale following the merger of Standard Life and asset manager Aberdeen in 2017. 

As part of the deal Standard Life Aberdeen acquired a shareholding of just under 20 per cent of Phoenix Group. 

amy.austin@ft.com

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