Friends Provident has appointed Andy Briggs chief executive officer (CEO).
He will replace Trevor Matthews who will assume the role of vice chairman. This follows Matthews' conclusion that, in view of his personal intention to return with his family to Australia within the next three years and the substantial agenda of work ahead, a new CEO should be appointed to lead the business through an anticipated return to direct public market ownership while he focuses on furthering Friends Provident’s presence and reputation in the marketplace.
Briggs is expected to join within the next six months from Lloyds Banking Group where he is currently CEO of general insurance, having previously been CEO of Scottish Widows.
Friends Provident was acquired by Resolution in 2009.
Sir Malcolm Williamson, chairman of Friends Provident, said: "There are a number of huge challenges and opportunities facing the UK life assurance industry and a significant agenda of work in creating value from Resolution's life consolidation project.
“The project is making strong progress and I am looking forward to continuing to work with Trevor as vice chairman and with Andy as the CEO who will take the business through to a successful realisation of value for Resolution's shareholders".
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