LONDON (Alliance News) - Standard Life PLC said Thursday the head of its UK & Europe Pensions & Savings operation will retire this year.
The FTSE 100-listed pensions and insurance provider said Paul Matthews, current chief executive of UK & Europe Pensions & Savings, will retire from the company at the end of August.
In preparation, Matthews will stand down as an executive director from the beginning of March.
His place on the board and his responsibilities for the Pensions & Savings business will be taken by Barry O'Dwyer, currently chief executive of Standard Life Assurance Ltd.
O'Dwyer has previously held the role of managing director of Workplace & Corporate Pensions at Standard Life, as well as being the former deputy chief executive of Prudential PLC in the UK & Europe.
"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," said Gerry Grimstone, chairman of Standard Life.
"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," added Grimstone.
Shares in Standard Life were up 1.3% at 354.20 pence Thursday.
By Adam Clark; adamclark@alliancenews.com
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