New Ceo for ROYAL LONDON
Barry O’Dwyer has joined Royal London to take up the role of chief executive.
The firm has confirmed that Barry O’Dwyer will take over from Phil Loney as chief executive of the life insurer at the end of this year. Loney had already announced that he was be stepping down from the position in June this year.
O’Dwyer joins from Standard Life Aberdeen where he was head of Standard Life Aberdeen’s UK business covering pensions, savings, platforms and asset management.
He started his career at Standard Life in 1988 and went on to hold a number of senior management positions in the company before moving on to roles at HBOS, Prudential and Standard Life Aberdeen. He was previously a non-executive director at Phoenix.
Kevin Parry, Royal London chairman, said: “Barry O’Dwyer brings with him wide-ranging experience of pensions, savings, platforms and asset management as well as a deep understanding both of the industry and the markets in which we operate.
“Along with his background in mutuality he has the right credentials to lead Royal London in the next stage of its growth.”
O’Dwyer added: “As a mutual Royal London has a great story to tell. It shares its profits with its customers and puts its customers firmly at the heart of its proposition development and service.
“We are well-placed to continue to build a truly customer-centric and successful business.”
Credit Suisse announces new Australia CEO
Credit Suisse announced the appointment of Richard Gibb as CEO of Australia, effective October 2019.
Richard joins from Deutsche Bank where he has worked for the past 10 years, most recently as Head of Corporate Finance, Asia Pacific, since 2016, based in Hong Kong and prior to that as Global Head of Financial Institutions, based in New York. Richard has more than 30 years’ experience in Investment Banking senior leadership roles across Hong Kong, New York and Sydney, also with Merrill Lynch, Bankers Trust and Westpac.
As CEO of Australia, Richard will lead the Australian franchise across Investment Banking and Capital Markets, Private Banking, Markets and Financing, driving the business and client strategy to maximize profitability, to harness business opportunities and grow the business. He will also focus on maintaining a strong corporate governance framework and regulatory relationships in Australia.
Helman Sitohang, CEO of Credit Suisse, Asia-Pacific, said: “I look forward to having a strong talent of Richard’s calibre join our Asia Pacific leadership team and continue to build on the success of our Australia business.”
Mr Sitohang also praised outgoing Australia CEO, John Knox, who has decided that this year will be his last at Credit Suisse. John Knox and Richard will work together on a smooth leadership transition in the coming months.
“I would like to thank John for his various contributions to Credit Suisse over the last 24 years. He leaves with our best wishes for the future,” he said.
Royal London names Standard Life veteran O’Dwyer as CEO
Royal London has named former Standard Life Aberdeen head of UK Barry O’Dwyer as its new group chief executive.
O’Dwyer was previously deputy chief executive at Prudential’s UK and Europe business, having started his career at Standard Life, then moving to HBOS before returning to Standard Life in 2013.
The announcement ends a half-year-long search for the group’s new boss, after current chief executive Phil Loney announced he would step down last December.
Loney will step down on 28 June 2019 and remain available to the group for the rest of the calendar year. O’Dwyer is expected to take up the role in September 2019.
Royal London chairman Kevin Parry says: “After a rigorous selection process, the board is pleased that Barry O’Dwyer has been appointed group chief executive. 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.
“Phil Loney has led seven years of major change in our business reflecting the introduction of pension freedoms and workplace pensions.
“The board thanks him for his unstinting commitment to the development of Royal London and wishes him well for the next stage of his career focusing on his charitable interests.”
O’Dwyer says: “I am delighted to be joining Royal London to build on the fantastic work of the last few years.
“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.
“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.”
Loney says: “It has been a privilege to be the chief executive of the largest mutual insurance group. I shall miss the people that have contributed so much to our development over the term of my tenure and wish my successor and colleagues all the best for the future.