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Phoenix reveals leadership of ex-Standard Life insurance arm

Phoenix reveals leadership of ex-Standard Life insurance arm

Phoenix has announced the executive management team who will take over the running of the insurance business it recently acquired from Standard Life Aberdeen.

Standard Life Aberdeen which was formed last year through the merger of insurer Standard Life and asset manager Aberdeen - announced in February that it would sell its insurance book to Phoenix, while, Aberdeen Standard Investments will take on the running of around £158bn of Phoenix's assets under management.

Today (26 June), Phoenix announced Susan McInnes, an existing member of the Phoenix executive committee, will be appointed CEO of Standard Life Assurance.

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She will take up her new role at the Edinburgh office when the transaction completes in the third quarter of this year.

Her responsibilities will include the management of all the open book and new business.

Jim McConville, Phoenix group finance sirector, will continue in his role, and take on additional responsibilities as group director for Scotland.

Two Standard Life Assurance employees are joining the Phoenix executive committee.

Jonathan Pears, currently chief risk officer at Standard Life, will replace Ms McInnes as Phoenix group chief risk officer on completion of the transaction.  

John McGuigan, currently managing director for customer Ooerations at Standard Life, will join as group head of customer, focused on creating the best customer experience across the enlarged group. 

He will retain his existing Standard Life Assurance responsibilities.

Andy Moss remains the CEO of Phoenix Life, and will oversee Phoenix’s traditional heritage business of closed-book activity. 

Clive Bannister, CEO of Phoenix Group said: “We are bringing the two firms together by utilising the respective strengths of both.

"I am especially delighted that Susan is to become the new CEO of Standard Life Assurance.

"She has played an important role with customers and regulators for Phoenix Life and her experience and leadership will deliver significant benefits to our new enlarged business going forward”.