Phoenix Group names boss of newly acquired Standard Life Aberdeen insurance business

Phoenix Group, which this week struck a deal to acquire Standard Life Aberdeen’s UK and European insurance business, has appointed company veteran Susan McInnes to head up its new acquisition.

An existing member of the Phoenix executive committee, she became chief risk officer at Phoenix only three months ago but will now assume her new role in Edinburgh as CEO of Standard Life Assurance upon completion of the £3 billion deal which was overwhelmingly backed by SLA shareholders this week.

The transaction is slated to be completed in the course of the next quarter.

Replacing McInnes is Standard Life Assurance CRO Jonathan Pears, who will join the Phoenix executive committee along with colleague John McGuigan.

Retaining his current Standard Life Assurance duties as managing director of customer operations, McGuigan will have a wider remit at Phoenix as he is appointed to the newly created function group head of customer.

Meanwhile, group finance director Jim McConville will continue in his existing role but will be taking on additional responsibilities as group director for Scotland. Andy Moss, who remains CEO of Phoenix Life, will oversee the group’s traditional heritage business of closed-book activity.

“We are delighted to announce these important appointments which will strengthen the Phoenix management team,” said group chief executive Clive Bannister. “We are bringing the two firms together by utilising the respective strengths of both.

“I am especially delighted that Susan is to become the new CEO of Standard Life Assurance. She has played an important role with customers and regulators for Phoenix Life and her experience and leadership will deliver significant benefits to our new enlarged business going forward.”