Royal London names Standard Life exec as new CEO
Royal London has appointed a former Prudential and Standard Life executive as its new boss.
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Barry O’Dwyer will take on the role of chief executive of Britain’s biggest mutual insurer in September after current CEO Phil Loney steps down at the end of June.
O’Dwyer was deputy CEO of Prudential’s UK and European business until 2013 when he left to join rival Standard Life.
In 2017, Barry became chief executive officer of Pensions & Savings and joined the board of Standard Life.
“I am delighted to be joining Royal London to build on the fantastic work of the last few years,” O’Dwyer said.
“The business has capitalised on some of the big trends in our market through a winning combination of great service to intermediaries and excellent value for customers and members,” he added.
“I hope to build on these cornerstones of success and ensure that Royal London builds on its mutual status remaining synonymous with great service and value.”
He will join Kevin Parry at the firm, who became the chairman of Royal London at the start of this year.
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Parry said of O’Dwyer: “His vision for our industry, coupled with extensive experience of retail and wholesale pension and savings products, will allow him to build on Royal London’s existing market position.”
He also thanked Loney for his “unstinting commitment”. The outgoing chief executive will remain available to the company for the rest of 2019 to help with the transition.