Royal London has confirmed that Barry O’Dwyer will take over from Phil Loney as chief executive of the life insurer at the end of this year.
Loney had already announced that he was be stepping down from the position in June this year.
O’Dwyer joins from Standard Life Aberdeen where he was head of the company’s UK business, covering pensions, savings, platforms and asset management.
O’Dwyer started his career at Standard Life in 1988 and has held a number of senior positions in the company, as well as at HBOS and Prudential.
Royal London chairman Kevin Parry says: “Barry O’Dwyer brings with him wide-ranging experience of pensions and savings as well as a deep understanding both of the industry and the markets in which we operate.”
He pointed out that Parry’s background in mutuality made him an excellent candidate to lead Royal London through its next stage of growth.