Royal London has apppointed Barry O’Dwyer as group chief executive.
O’Dwyer (pictured) succeeds Phil Loney, who is standing down at the end of this month and will remain available to the group for the remainder of the calendar year.
Kevin Parry, chairman of Royal London, said “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 said: “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 said: “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.”
O’Dwyer is expected to take up his appointment, which is subject to regulatory approval, in September 2019.