Directorate Change

RNS Number : 2577E

Phoenix Group Holdings

29 May 2012

 



Directorate Change

Phoenix Group appoints Group Finance Director

Phoenix Group Holdings announces that Jim McConville has been appointed Group Finance Director and will commence executive duties on 6 June 2012.  

Mr McConville has more than 22 years' experience in the UK retail banking and insurance sector. He joins from Northern Rock plc where he was Chief Finance Officer from 2010 to early 2012. Previously, he was at Lloyds Banking Group for over 20 years, where he held a number of senior finance roles, including Finance Director of both Scottish Widows Group and the Insurance and Investments Division.

Paul Miles, previously Acting Group Finance Director, will remain with the Group.  

Ron Sandler, Chairman of Phoenix Group, said:

"We're delighted Jim McConville will be joining us as Group Finance Director. He has a track record of success and a deep understanding of both the banking and insurance sectors. His experience at Northern Rock and Lloyds Banking Group will ensure Jim plays a substantial role in the ongoing development of the Phoenix Group. His appointment further strengthens our management team as we look to capitalise on the significant opportunities ahead of us.

"The Board would like to thank Paul Miles for his outstanding contribution to the Group in his role as Acting Finance Director and I am delighted that Paul will be remaining with the Group."

Notes for Editors:

1.         Phoenix Group is the UK's largest consolidator of closed life funds with approximately 6 million policyholders and £71.6 billion of group assets under management at 31 March 2012.

2.         The Group's operating businesses delivered £810m of cash in the year ended 31 December 2011.

3.         Mr McConville is a non-executive director of the life insurance businesses of Aegon UK and is Chairman of their Audit Committee.  In the last five years, Mr McConville also formerly held directorships at the following publicly quoted companies: Scottish Widows plc, Gosforth Funding plc and Gosforth Funding 2011-1 plc.

4.         Mr McConville's appointment as a director of Phoenix Group Holdings will be considered at the next meeting of the Board which is currently scheduled for 28 June 2012.

5.         No other information is required to be notified under Listing Rule 9.6.13 R.

Further Information:

Media Neil Bennett, Maitland Peter Ogden, Maitland + 44 (0) 20 7379 5151

Investors Katherine Jones, Head of Investor Relations, Phoenix Group [phone]

 

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