Friends Life, part of Friends Provident Holdings (UK), has appointed David Still as new director, retirement income.
As a director, Still will oversee, develop and implement the at-retirement strategy for the business, which is seen as key to the new Friends Life strategy outlined in the first quarter this year.
David Still joins Friends Life from UBS, and brings with him significant knowledge of the annuity marketplace from over 20 years in the life industry, including senior positions at Prudential and Paternoster.
Friends Life aims to grow its expertise, focusing on improving its annuity retention rates and exploring options to expand its at-retirement capabilities and market presence.
The growth in baby boomer retirees and DC pension provision combined with government policy reforms will present growing opportunities in the annuity market.
Friends Life CEO Trevor Matthews said David will play a pivotal role in developing the future strategy and ensuring its customers are given the best possible choices at this important juncture in their lives.