Insurer Phoenix Group on Friday hired former Aviva executive Andy Briggs to replace long-serving chief Clive Bannister, who will stand down after nine years.
Briggs left Aviva in April after missing out on the top job to Maurice Tulloch.
He ran Aviva’s giant UK insurance division for several years under former boss Mark Wilson and before that was chief executive of FTSE 100 insurer Friends Life.
Bannister will leave Phoenix in March with Briggs joining in January to ensure a “smooth handover.” Bannister said: “This is good news for Phoenix. Andy is a great successor. This is a grown-up person, no stabilisers, no learning wheels necessary.
“You can’t ordain the future but with all the cards that are at Andy’s disposal and given his inherent competence
I think it will be more of the same by way of strategy.
“I have been around for nine years, and at some point you become a bit of the furniture. Nothing goes on for ever.”
Bannister, the son of runner Sir Roger Bannister, transformed Phoenix into an elite FTSE 100 business after buying Standard Life Aberdeen’s insurance business for £2.9 billion in 2018.
He is also chairman of the Museum of London and said he will focus on helping the museum move from its London Wall site to Smithfield after he leaves the insurer.
