Executives at Bright Grey say the future of the company is not at risk following the resignation of its chief executive.
David Robinson announced yesterday he will be leaving his position as chief executive of Bright Grey on 30 June, and Mike Yardley, group chief executive of Royal London, will manage the firm for the time being.
Alasdair Buchanan, group head of communications at Royal London, says the future of the firm is "not at risk" but that Yardley is working on what is envisaged as the best long-term solution for the management structure of the company.
As well as Yardley stepping into a managerial position at Bright Grey, Jim Smith, sales director at Scottish Life, has also been overseeing part of the business since February. Roger Edwards has also been seconded to Scottish Life but also maintain his role at Bright Grey.
Buchanan claims Yardley will ensure the firm carries on in exactly the same way because it is seen as a good business model.
Bright Grey has stressed its autonomy from Royal London in the past and Buchanan says it is no more separate than other parts of the business, such as Scottish Life and Royal London Asset Management, which also have a reasonable degree of autonomy.
He adds: “Yardley will ensure he doesn’t disrupt the business, then he will be looking at the medium to longer term. I doubt there will be major changes, but he will need to look at the firm as a whole.”
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