Andy Parsons and David Hynam both formerly of Axa, have joined chief executive Trevor Matthews on the board of Friends Provident, taking executive director roles in the business following its merger of Axa’s UK Life business.
The role of chief financial officer (CFO) has been split, with Evelyn Bourke, former CFO of Friends Provident becoming executive director – strategy, capital and risk, while parsons takes the role of executive director – finance on an interim basis. Hynam joins the board as executive director – operations.
Resolution confirmed on Wednesday it has completed the acquisition of the AXA UK life businesses, comprising protection, corporate benefits and annuities. The combined business is now held by Friends Provident Holdings (UK) Limited.
A new organisation structure is being implemented to broaden the balance of top management in the combined business. Graham Harvey takes responsibility for individual business and Paul McMahon heads up corporate business, both joining from Axa. Rocco Sepe remains Managing Director, international.
Matthews says: “Combining the best of the best elements of our collective skills, people and propositions will make us one of the market leaders in our core businesses of corporate pensions and protection in the UK. Our combined organisation has a real opportunity to shape the future direction of the life and pensions industry in the UK. We are excited by the continued prospects for our business as the driving force in Resolution’s consolidation strategy in the life sector.”