Standard Life has appointed Claire Altman to the newly established position of business development & origination director.
In this role she will look to drive growth across the defined benefit and individual retirement markets.
Altman was previously managing director for individual retirement at Standard Life. She joined the firm in j2021 from Smart Pension where she was chief corporate officer. She has previously also worked as an independent trustee with Capital Cranfield and was also a partner at Sackers.
In this new role she will oversee the development of all client relationships and business growth strategies within the retirement market and lead Standard Life’s DB solutions strategy, heading up an experienced team of risk transfer specialists.
As a result Altman will be working closely with trustees, consultants, and existing clients to understand needs, identify opportunities and deliver innovative, tailored solutions.
The creation of this new role follows the decision earlier this year to integrate the retirement solutions and asset management teams within Phoenix Group into a single business area.
This new division will price, manufacture and manage retirement products that go to market under the Standard Life brand, supported by Phoenix Group’s financial strength and resilient balance sheet, which will continue to manage the investments that back them.
Altman will report directly into chief investment officer Mike Eakins, who leads the combined retirement solutions and asset management division.
Altman says: “For those working within the defined benefit space, the legislative framework outlined in the Pension Schemes Bill will bring new complexities that will influence the thinking of DB schemes trustees and their sponsors.
“As we continue to navigate the evolving legislative and market environment, our focus remains firmly on deepening partnerships with our clients, trustees and consultants. The pace of change means there’s a renewed emphasis on delivering practical, tailored solutions that ultimately give people greater certainty regarding their retirement income.
“Our recent £1.9bn buy-in with the Sedgwick section of the MMC UK Pension Fund is a great example of this given the complexities involved and represented our largest deal to date.”
Mike Eakins, chief investment officer at Phoenix Group adds: “[Altman’s] appointment reflects our ambition to be the partner of choice for defined benefit schemes. With 86 per cent of DB pension scheme trustees expecting to approach an insurer about de-risking within the next five years proactive engagement with this market is essential and the appointment is a signal of our intent to be at the forefront of these discussions. This new structure ensures the team is in a strong position to anticipate client needs and support schemes earlier in their de-risking journeys.
“This is an exciting step forward as we align our Retirement Solutions and Asset Management teams under one leadership structure. With Standard Life achieving £5.1 billion of transactions in 2024, this area continues to be a core focus of our strategy, helping us deliver long-term value for customers and shareholders.
“Altman’s experience delivering innovative at-retirement products and building strategic partnerships with providers and clients across the industry, means the team are well-equipped to deliver on our ambitious growth targets.”
