Earlier this year Andy Briggs stepped down as Aviva’s UK insurance chief executive; now we know where he’s headed.
It’s been announced that Phoenix Group boss Clive Bannister is retiring on March 10, 2020, with Briggs succeeding him as group CEO of the closed life funds consolidator. To enable an orderly transition, the former Association of British Insurers chairman will join Phoenix on January 01 as CEO-designate.
Commenting on the appointment, which is subject to regulatory approval, Bannister stated: “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.”
Briggs’ insurance industry credentials include time spent as Friends Life group CEO, Scottish Widows managing director, and chief executive of Prudential’s retirement income division.
Meanwhile his predecessor at Phoenix has expressed confidence in terms of what lies ahead for the enterprise.
“I am proud of all that we have achieved and I’m confident that I leave the group in good shape for my successor,” added Bannister, who came onboard in 2011 and was described by chairman Nick Lyons as having worked with “great passion and energy” during his stint 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,” noted Lyons. “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.”
Concurring, Briggs added: “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.”