Closed book consolidator Phoenix Group has appointed a new chairman to succeed former Financial Services Authority chairman Sir Howard Davies.
The group appointed former Legal & General chairman Henry Staunton to lead its board from 1 September. Davies (pictured) has joined the Royal Bank of Scotland, where he will take over from outgoing chairman Philip Hampton in September. Staunton also currently acts as chair of the boards of retail group WH Smith and rent-to-own company BrightHouse Group, and as non-executive director at Capital & Counties Properties. Phoenix reported an operating profit of £135m for the first half of 2015, down 50% on last year's £266m. However, it generated £110m cash in the period bringing it o...
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