Royal London has unveiled the executive team that will lead its recently pooled international business, although there will also be some casualties.
The combined Scottish Life International (SLI) and Scottish Provident International (Spila) businesses, announced in June, will increase Royal London’s growth in the offshore sector and substantially enhance the scale of its operations, according to the mutual life and pensions company.
However, Lillian Boyle, now ex-managing director of Spila, will not be joining the new management team.
A spokesman from Royal London said: “Unfortunately we haven’t been able to find a suitable role at Royal London for Lillian Boyle, who left Spila at the beginning of this week.”
The spokesman added: “Inevitably, a small number of people don’t have a new role in the new team.”
The businesses will continue to operate as usual until the teams are combined, but going forward, Royal London will try to identify suitable roles elsewhere in the group for employees, he added.
David Kneeshaw, currently chief executive of SLI, has been appointed chief executive of the combined business.
Simon Pack will become international sales director, responsible for the international sales teams in Germany, Hong Kong, the Middle East and South Africa.
David White will head up the UK sales teams as director; Mike Crellin, current finance director at SLI has been appointed as finance and commercial director; and Dave Cameron, currently operations and IT director at Spila, will take the same position at the joint venture.
The head office location of the combined international business has been confirmed as Provident House on the Isle of Man, currently the location of Spila’s head office.
John Deane, chief executive of Royal London’s intermediary division, said: “This team represents the broad range of skills and experience that exist in both Spila and SLI.”
David Kneeshaw added: “Work is continuing on selecting the name of the combined business. But the executive’s primary objective is to have the business looking and feeling like one company by the end of the year.”
Interim results released last week showed new business at SLI up 4% compared with the first half of 2007, at £779m. This included Spila sales in June 2008.
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