Phoenix Group Holdings today announces it has strengthened its Group Executive Committee with a number of new appointments.

The changes follow a strong full-year financial performance for 2017 and the announcement of the Group's proposed acquisition of Standard Life Assurance.

The appointments bring additional experience and diversity to PGH’s executive team as the organisation progresses towards the completion of the Standard Life Assurance acquisition and the transition of the combined businesses.

Two new roles on the Executive Committee have been created:

• Rakesh Thakrar, Deputy Group Finance Director will join the Group Executive Committee and also become a Director of the Life Company Board upon election at its next meeting. Rakesh has worked for Phoenix Group companies since 2001, during which time he has held a number of positions including senior finance and strategy related roles and is responsible for the Group’s financial performance, internal and external reporting obligations and supporting the delivery of the Group’s strategy.
• Tony Kassimiotis will join the Group Executive Committee in a new role as Group Chief Operating Officer responsible for all Operations, Outsourcing Relationships, Technology, Premises, Procurement and various Projects, reporting to the Group Chief Executive. Tony has worked for Phoenix Group companies since 2001, during which time he has held a number of roles including Chief Operating Officer at Pearl and most recently Managing Director of Operations of the Group.
• In addition, Susan McInnes has replaced Wayne Snow as Chief Risk Officer and will join the Group Executive Committee. Susan has worked for Phoenix Group companies since 2006, during which time she has held a number of customer roles including Head of Service Delivery and Head of Outsource and Customer Management and most recently Customer Director of Phoenix Life.

Fiona Clutterbuck, Head of Strategy, Corporate Development and Communications, is retiring from the Group. Following an internal restructure, her responsibilites have been reallocated to an enlarged corporate development team managed by Simon True, Group Chief Actuary.

Clive Bannister, Group Chief Executive, said: “Phoenix is well placed to take part in the future consolidation of the closed life and BPA markets and it is important that we strengthen our leadership team. Rakesh, Tony and Susan have all made long term contributions to Phoenix and I am delighted they have joined the Group Executive Committee. I would also like to pay tribute to Fiona and Wayne for their commitment to Phoenix over the past years and wish them well in the future.”

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Enquiries

Investors/analysts:
Claire Hawkins, Head of Investor Relations, Phoenix Group
+44 (0)20 3735 0021

Media:
Neil Bennett, Andy Donald, Maitland
+44 (0)20 7379 5151

Notes to editors

Phoenix Group is the UK’s largest specialist consolidator of closed life funds with 5.6 million customers and £74 billion of life company assets