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Phoenix boss joins ABI board

Phoenix boss joins ABI board

Phoenix Group chief executive Clive Bannister has joined the board of the Association of British Insurers (ABI).

Mr Bannister was previously group managing director of insurance and asset management at HSBC Holdings. He has also been a partner in Booz Allen Hamilton’s financial services practice, and has worked for First National Bank of Boston.

He has also been chairman of the Museum of London since 2013.

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Andy Briggs, the ABI's chairman and chief executive for UK insurance at Aviva, said: "I am delighted to welcome Clive to the ABI board. He will bring a great deal of expertise and a fresh perspective to the wide range of topics on which the ABI focuses."

Phoenix Group, which is part of the FTSE 250, is the UK's largest closed life fund with £76bn of total assets.

Mr Bannister added: "I am very pleased to be joining the ABI board at a time of great change, challenge and opportunity for our industry. The current environment makes it more important than ever that the industry speaks with a clear voice, and that the growing closed fund consolidator sector plays a full part in these conversations.

"I look forward to working with other board members to help shape the future of our world-leading industry to ensure it continues to deliver best outcomes to customers."