Standard Life and Prudential today unveiled key appointments to run their pensions businesses.
Edinburgh-based Barry O’Dwyer, deputy chief executive, UK and Europe, for Prudential, becomes managing director, workplace at Standard Life.
He succeeds Ronnie Taylor who took the industry by surprise when he resigned last month after less than a year in the role to join Scottish Widows.
O’Dwyer returns to Standard where he began his financial services career as a trainee actuary. During 19 years with the company he held a number of senior management positions in both the UK and Ireland, latterly as managing director, marketing.
The 35,000 pension schemes run by Standard Life’s workplace business have 1.2 million members and more than £24.5 billion of assets under administration. The business also provides employee benefits such as private medical insurance and life cover. A key focus is on pensions reform and automatic enrolment.
Paul Matthews, chief executive of UK and Europe at Standard Life, said: “Barry joins Standard Life to lead a core part of our business. He brings with him a wealth of experience of the UK and Europe markets alongside knowing Standard Life very well. We have ambitious plans for the growth of our workplace business.
Prudential moved swiftly to replace O’Dwyer by appointing John Warburton to the position of managing director of retail life & pensions, UK and Europe. He will be responsible for retail sales, distribution, corporate pensions, products and marketing. He will continue to be based at Prudential’s Craigforth office in Stirling. The appointment is effective immediately.
Previously product director at Prudential UK & Europe, he joined the insurer in 2010 from Lloyds Banking Group where he held a number of senior management positions, latterly as interim marketing director for regulated life, pension and investment products.
Rob Devey, chief executive of Prudential UK & Europe, said: “I am delighted that we have been able to appoint such a strong and experienced candidate from within our own ranks.”