Royal London appoints new group chief executive

Barry O’Dwyer

He is expected to take up his appointment in September 2019.

Royal London’s board confirmed that Mr O’Dwyer will replace Phil Loney when he stands down on 28 June 2019 whilst remaining available to the group for the remainder of the calendar year.

Mr O’Dwyer began his career at Standard Life in 1988. He trained and qualified as an actuary and held a number of senior management positions in both the UK and Ireland. He was managing director, marketing of Standard Life when he left in 2007 to join HBOS.

From there he moved to Prudential in 2009 and was deputy chief executive of their UK & Europe business when he left in 2013 to return to Standard Life. In March 2017, Mr O’Dwyer became CEO of pensions & savings and joined the Board of Standard Life plc. Following the merger with Aberdeen Asset Management and the sale of Standard Life Assurance to Phoenix Group, Mr O’Dwyer became head of Standard Life Aberdeen’s UK business embracing pensions and savings, platforms and asset management. He also joined the Board of Phoenix Group as a non-executive director.
 
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.”
 
Mr 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.”
 
Phil Loney, outgoing Group Chief Executive 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.”