LV= has today named Richard Rowney as its new chief executive, taking over from Mike Rogers who steps down after ten years in the role.
Rowney is currently managing director of LV=’s life and pensions business having originally joined the Society in 2007 as chief operating officer. He will take up his appointment later this summer, after a short handover period.
In 2015 LV=’s life business delivered an operating profit of £41 million, compared to a loss of £7m in 2014.
Prior to LV= Rowney spent 14 years at Barclays in a number of positions across corporate and retail banking, including integration director for the bank and chief operating officer for Premier Banking. He has an MBA from Henley Business School and has completed the Harvard General Management Programme.
LV= chairman Mark Austen says: “We believe that effective succession planning is done from a position of strength and following a thorough search process that produced a shortlist of excellent internal and external candidates the board is particularly pleased to be able to promote from within to fill the role of chief executive.
“Richard is an exceptionally talented business leader and the board is confident that he is the right person to build on the heritage of the Society’s 170 year history and the platform that Mike Rogers has created to take LV= to the next level.”
Rowney says: “I’m fully aware of the board’s ambition for LV= and am excited by the challenges and opportunities that lie ahead. I look forward to working with my team to build a business that delivers the best possible outcomes for our people, customers and members.”