10th Oct 2006 07:02
Friends Provident PLC10 October 2006 10 October 2006 Friends Provident plc appoints new group finance director Friends Provident plc announces today the appointment of Jim Smart as groupfinance director. He joins Friends Provident on 13 November taking over fromPhilip Moore and joining the board on 1 January 2007, subject to FSA approval. Jim Smart joins from Boots Group plc, where he was group chief financial officerbefore the merger with Alliance Unichem. As previously announced on 28 June 2006Philip Moore succeeds Keith Satchell as group chief executive and will also takeup his new position from 1 January 2007. Keith Satchell will retire from theBoard at the end of January 2007. Sir Adrian Montague, the chairman of Friends Provident, said: "The appointment of Jim Smart successfully completes the succession process webegan following the announcement of Keith Satchell's retirement, and we aredelighted to welcome him to Friends Provident. As part of previously successfulmanagement teams he already has a proven track record for delivering soundstrategic and effective management to growing businesses with extensiveexperience in both retail and financial services. Commenting on his new role Jim Smart, said: "Friends Provident is a highly successful group with determined growthaspirations coupled with a strong culture for delivering high quality customerservice. I am looking forward to working alongside Philip Moore and the Board todrive the business further forward." - Ends - For further information, please contact: Nick Boakes Friends Provident plc 0845 641 7814Di Skidmore Friends Provident plc 0845 641 7833Rupert Younger Finsbury Limited 020 7251 3801 Ref: G147 Notes to Editors Jim Smart FCCA, CPFA (age 46) has steered Boots through a number of structuralchanges from selling Boots Healthcare International to the group's recent mergerwith Alliance Unichem. He trained with Coopers & Lybrand - now part of PWC.Before joining Boots in 2003, he was at Abbey National plc for 15 years. Duringthis time he held a number of senior finance and operational positions and was adirector of the group's life assurance business, Scottish Mutual Assurance. About Friends Provident Friends Provident plc is the holding company of the Friends Provident Group ofcompanies and a member of the FTSE 100. With more than 2.5 million customers theGroup employs nearly 5,000 staff in its three core businesses: UK Life &Pensions, International Life & Pensions and Asset Management. The business was founded in 1832 on Quaker principles and aimed to alleviate thehardship of families facing misfortune. Friends Provident has embraced corporategovernance and achieving high standards of corporate behaviour andaccountability to both stakeholders and customers is at the heart of ourbusiness. In 2001 the company established the grant-making charity The FriendsProvident Foundation with the aim to encourage new ways of thinking about howmoney can be used to solve a wide range of problems. Fast growing International Life & Pensions: • Friends Provident International - first half 2006 new business up 50% on 2005 • Lombard - new business compound annual growth rate 28% over last 10 years UK Life & Pensions: • Market share grown in each of last 3 years, from 3.4% in 2002 to 5.9% in first half 2006 Asset Management: • Funds under management up from c£30 billion at listing (July 2001) to £107 billion at 30 June 2006 Financially strong • With Profits Fund surplus £246m and Risk Capital Margin £260m at 30 June 2006 • Life & Pensions excess capital resources in accordance with FRS 27 £1.8 billion at 31 December 2005 • Regulatory solvency: Free Asset Ratio 19.6% at 30 June 2006 For more information on Friends Provident including, images, awards, fast facts,presentations, and media contacts please visit the media section atwww.friendsprovident.com/media This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Fondul Proprietatea