Philip Moore, Friends Provident group chief executive, is set to step down today following the collapse of the firm's merger with Resolution.
Until a full time successor is appointed, Sir Adrian Montague will take on the role of executive chairman. The life insurer says Jim Smart, the group finance director, will work with Sir Adrian Montague to lead a detailed review of the group’s strategic options in order to maximise value for shareholders. Ben Gunn and Alain Grisay will continue to lead, respectively, the group’s life & pensions and asset management businesses. The Board intends to update shareholders on the strategic review by the time of the fourth quarter new business results at the end of January. Sir Adrian Mont...
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