Standard Life has named Andrew Davies as independent chair of its independent governance committee (IGC).
He also holds the role of trustee director on the Standard Life Master Trust Company Board (SLMTC), which he has been since January 2020. In addition to serving as a member of the communications and engagement subcommittee, he chairs the administration and governance subcommittee.
This appointment comes as Dr. David Hare, the current IGC Chair, announces his retirement on December 31, 2024. It concludes nearly a decade in which he has led the IGCs of eight Phoenix Group companies, including the Phoenix Life IGC since 2015 and the Standard Life IGC since 2019.
The committee is in charge of managing the interests of around 3 million participants in the Workplace and Investment Pathways individual retirement plan.
Davies says: “As pension savers face an environment that continues to place more pressures on their finances, the role of the IGC has never been more important. Having sat on the IGC with responsibility for the
“Communications and Engagement Value for Money (VfM) workstream, I’m acutely aware of the importance that value for money, sustainable investment and strong governance practices play in protecting the best interests of pension savers. I look forward to building on David’s excellent work and to continue scrutinising how Standard Life manages its customers’ savings and working on their behalf to secure good retirement outcomes.”
Standard Life managing director of workplace and retail intermediary Gail Izat says: “We wish David well in his retirement. He has worked tirelessly on behalf of customers for nearly a decade, helping elevate the level of oversight and rigour applied to managing our pension schemes. Having also worked with Andrew in recent years, I am pleased that his appointment, as IGC Chair, will facilitate continuity across the important work of the IGC, whilst maintaining strong links with the Master Trust board.”