Scottish Friendly hires Aegon’s McGee as CEO

Friendly face: Stephen McGee

Scottish Friendly Assurance Society has announced that Stephen McGee will become chief executive, moving from Aegon where he has been chief financial officer since 2016.

Prior to Aegon, Mr McGee held senior positions at a number of financial institutions, including chief actuary at Lloyds Banking Group and head of actuarial at Phoenix Group.

He will take over from Martin Pringle, who has been acting chief executive since the death of Jim Galbraith in April. Mr Pringle will remain in the role until McGee’s arrival next April.

Mr McGee said: “It is a great honour to be appointed the next chief executive of Scottish Friendly. I have known the organisation for some time and have always greatly admired its innovation, pace and commitment to a coherent and successful vision and purpose repeatedly articulated to me by Jim Galbraith over the years.

“Scottish Friendly already has a balanced, well-respected and dedicated team in place and I am very much looking forward to working with them all, building on what has been a record year of sales for the business and continuing the success story that is Scottish Friendly.”

Chairman David Huntley added: “Everyone at Scottish Friendly is incredibly grateful to Martin for stepping up when the business needed him most.

“His time as CEO (acting) provided the steady leadership needed during an incredibly difficult time while, importantly, giving the board time and space to make such an important long-term appointment.

“Stephen greatly impressed the board with a unique combination of drive, enthusiasm, experience and knowledge.”

Aegon hires CFO

Jim Ewing replaces Mr McGee as chief financial officer.

He joined Aegon in 2011 and has been chief risk officer since 2014, a role in which he has led one of the major functions of the business and been responsible for a wide variety of strategic projects as well as heading up Aegon’s diversity and inclusion programme.

He joined Aegon from Lloyds Banking Group where he was latterly solvency II director. An actuary by training, he has 30 years financial services experience.

Commenting on the appointment, Mike Holliday-Williams, Aegon UK CEO, said: “Jim brings a wealth of experience to the role and I’m delighted to have someone with such a strong understanding of our business and the markets in which we operate in this key position.

“His appointment adds continuity to an already very well established senior leadership team and I look forward to working with him as we deliver on our plans for growth in the adviser and workplace markets.

“I’d like to thank Stephen for his significant contribution to the business over the years and wish him all the best for the future.”

Mr Ewing said: “As a business we have a huge opportunity to capitalise on the central role that workplace pensions increasingly play in people’s saving journey and the ongoing growth of the adviser platform market.

“The finance team will play a critical role in ensuring that Aegon is a sustainable and long-term partner for intermediaries and that the business is able to deliver on the ambitious investment programme currently under way, designed to enhance the user experience and proposition for intermediaries and customers alike.”

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