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Topics: Royal London Asset Management| Lloyds Banking Group
Lloyds Banking Group managing director Phil Loney has been appointed group chief executive of Royal London.
Loney, who currently runs Lloyds' life, pensions and investments arm, will join Royal London by October.
Mike Yardley, current chief executive at Royal London, will step down once Loney takes up the role.
Loney, (pictured), says: "My main challenge will be to lead Royal London to even greater success in the future, for the benefit of policyholders and members.
"With the financial services sector facing rigorous scrutiny, customers need a strong and innovative mutual insurance sector."
Tim Melville-Ross, chairman of Royal London, says: "Phil is a high calibre individual who brings significant strategic capability and strong leadership to Royal London."
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