Paul Matthews, the UK and Europe chief executive of Standard Life is to retire from the company.
Matthews will retire from his role as executive director at the beginning of March, with Barry O’Dwyer, currently CEO of Standard Life Assurance Limited, being appointed to the board as an executive director. Matthews will retire from the company on 31 August 2017.
He joined Standard Life in 1989 and, following senior roles in distribution and relationship management, was appointed UK CEO in 2011 and UK & Europe CEO in 2012.
O’Dwyer joined Standard Life in 1988 and between then and 2008 held various marketing, product development and actuarial roles. From 2008-2013 he held senior roles with HBOS and Prudential, including as Prudential’s deputy chief executive, UK & Europe. He rejoined Standard Life in 2013 as managing director of workplace and corporate pensions, and was appointed CEO, Life Assurance in 2016. He was appointed to the board of Standard Life Assurance Limited on 1 September 2016.
As well as replacing Matthews on the Board, O’Dwyer will also assume his responsibilities for the pension & savings business.
Following these changes, Standard’s board will comprise the chairman, four executive directors and seven non-executive directors, made up of three women and nine men.
Standard Life chairman Sir Gerry Grimstone says: “My thanks go to Paul for his service over the past 28 years. His dedication and commitment to Standard Life during that time is unparalleled and we owe him a tremendous debt of gratitude. We will miss him. I would like to welcome Barry to the Board. His extensive knowledge of the savings market will provide valuable insight to inform our thinking and ensure customer and client interests remain at the centre of our decision making.”