Michael Walker

Mr Walker was appointed chairman in January 2009 in the aftermath of the global financial crisis and has overseen the business’s dramatic growth and innovation in the years since. 

The success of the past decade has been built upon the company’s diversify and growth strategy. This was emphasised as the group’s path to emerge from the financial crisis in a stronger position than it entered it and has been Mr Walker’s primary focus during his long tenure.

During this time, Scottish Friendly has significantly increased in size with assets under management (AUM) increasing from £704 million to £5.3 billion, while membership numbers have risen from 489,000 to more than 700,000.

Mr Walker was formerly managing partner and chairman of legal firm Maclay Murray & Spens and recently stood down as chairman of Walkers Shortbread Limited. He will now hand over the reins to current Scottish Friendly director and chair of the board risk committee, David Huntley.

Mr Huntley has spent more than 30 years in financial services and has held several roles at a CEO and managing director-level, including as CEO of Swiss Re Australia.

Despite the global uncertainty surrounding the coronavirus pandemic, Mr Huntley takes over the role at a hugely exciting juncture in Scottish Friendly’s history.

Membership numbers are at a record high, organic sales of Scottish Friendly’s savings and investments have reached a new peak, and exciting, new products and digital services are in development.

Michael Walker said: “I am incredibly proud of Scottish Friendly’s achievements over the past 11 years and how far we’ve come as a group. We’ve enjoyed exponential growth which has allowed us to focus continually on improving the value and service we offer to members. I am very thankful for all the hard work my colleagues across the business have put in over the last decade and feel extremely fortunate and privileged to have been part of such a great team.

“I’m very pleased that David has been chosen by the Board to take on the position of Chairman and I wish him all the very best for the future. He has played an important role in helping to set the company’s strategy in recent years and his knowledge of the Society coupled with his excellent track record in financial services make him the ideal candidate to support the excellent Management team in Scottish Friendly.”

David Huntley, added: “It is an honour to take over from Michael who has overseen an incredible and transformative period in Scottish Friendly’s long history. He has supported the management team and Board as we have established the group as a leading mutual and Scottish financial services organisation serving members up and down the UK.

“As we turn to the new challenges we will face in the next decade I look forward to taking on this new responsibility and working closely with the rest of the Board and management team, and all of our fantastic colleagues, to build on the success of the last decade.”