– UK, London –  Phoenix Group Holdings Plc (LON: PHNX), today announced that Clive Bannister, the Group Chief Executive, will retire on 10 March 2020 following the publication of the Group’s full-year results and after nine years with the business, and will be succeeded by Andy Briggs, who will join the business as CEO- designate on 1 January 2020 in order to effect a smooth handover. Andy Briggs will also be appointed to the Board of Phoenix Group Holdings plc from 1 January 2020.

The Board believes that the depth and breadth of Andy’s industry knowledge is particularly relevant for Phoenix, where he will further develop the Group’s Open businesses under the Standard Life & Sun Life brands. He will strengthen its positioning in the Group’s traditional Heritage and Bulk Purchase Annuity segments, and maintain its pre-eminence as Europe’s leading Life Consolidator.

Nick Lyons, Phoenix Group Chairman said: “Clive has worked with great passion and energy during his nine years as CEO. He has led Phoenix in a period of sustained growth and success to its current position as the largest life and pensions consolidator in Europe and he leaves us, as a business, confident and assured. The Board would like to thank him for the tremendous contribution he has made. Phoenix, its customers, colleagues and investors will benefit from the smoothest of successions between two great industry leaders and, with Andy as our future CEO, we will be in the best position to leverage the broad strategic platform that Clive has delivered.”

Clive Bannister said: “I am delighted to welcome Andy as CEO-designate. He is the ideal candidate who combines deep knowledge of the Open and Heritage life businesses, strong integration and M&A skills and a proven track record in driving a radical change agenda for major UK insurance businesses. I am proud of all that we have achieved and I’m confident that I leave the Group in good shape for my successor.”

About Andy Briggs

Andy has over 30 years of insurance industry leadership experience. He was Group Chief Executive of Friends Life, the listed insurer, Managing Director of Scottish Widows, Chief Executive of the Retirement Income division at Prudential and Chairman of the ABI. Most recently he was CEO UK Insurance of Aviva plc until earlier this year. He is a Trustee and Chair of the Income Generation Committee of the NSPCC and also serves as the UK Government’s Business Champion for the Ageing Society. He is a qualified actuary.

Andy Briggs said: “Clive has done an excellent job leading Phoenix, and the Standard Life acquisition is strategically transformational for the Group. I believe the business is uniquely placed for a truly exciting future, and I look forward to leading the next stage of the journey.”

For more information: https://www.thephoenixgroup.com

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