It looks like Royal London is fond of Standard Life Aberdeen (SLA).
Last December, the UK’s largest mutual life insurance and pensions company announced that Kevin Parry OBE, an SLA senior independent director at the time, was taking over chairmanship of Royal London’s board come 2019.
On the same day it was revealed that the end of this year will see the departure of chief executive Phil Loney. Now a Daily Business report has named an SLA executive as the likely successor to the Royal London boss.
Barry O’Dwyer, who currently serves as head of UK at SLA, was described by an industry source as a firm favourite for the top post. Credentials of the supposed frontrunner also include time spent at HBOS and Prudential.
Loney is leaving Royal London to concentrate on his charitable interests. The outgoing CEO came onboard in 2011, leading the group’s transformation into a unified, reputable brand.