New CEO Gary Shaughnessy sets out blueprint
Zurich’s UK head of individual protection Peter Hamilton is to take on the additional role of head of propositions as part of a restructuring announced today by UK Life CEO Gary Shaughnessy (pictured).
Hamilton, currently head of protection proposition, takes on the role – which is a new one being introduced to the Zurich executive team – on an interim basis until a permanent appointment is made.
The head of propositions will report to Shaughnessy who announced a number of other changes today.
Jonathan Plumtree, head of Zurich Corporate Risk, the insurer's group risk business, will now report to Simon Foster, currently head of Zurich Corporate Savings, who has been appointed as the new head of corporate. A spokesman for Zurich said there is “no impact” on Zurich Corporate Risk’s customer proposition as a result of the changes.
Other changes announced today by Shaughnessy, who took over as CEO in June of this year, include the creation of a head of retail position, covering Zurich’s intermediated retail proposition, including its actively-marketed life, pensions and investment proposition and its retail platform supporting financial advisers. Shaughnessy will assume the role on an interim basis until a permanent successor is appointed.
Alastair Beveridge continues in his current role as head of in-force management, which incorporates responsibility for Zurich’s existing propositions and products designed for the market pre-Retail Distribution Review.
Richard Howells, intermediary sales director, remains on the executive team, with a reporting line change into the new head of retail.
Zurich also announced today that after nine years with UK Life as a member of the executive team and UK Life boards, David Etherington is stepping down from his role as chief growth officer at the end of July. He will stay with the business until the retail platform is launched later this year. The role of chief growth officer will not be retained.
Other executive roles remain unchanged and the new structure takes effect from 31 July 2012.