Phoenix Chairman nominated to become Lord Mayor of London.

The Board of Phoenix notes the announcement from the City of London Corporation earlier today that Phoenix’s Chairman, Nicholas Lyons, has been nominated for the prestigious role of Lord Mayor of London from November 2022 for one year.

The Board is very pleased that its Chairman has been recognised in this way and has planned for it accordingly. To accommodate him taking up the role in November 2022, it is planned that Mr Lyons will take a sabbatical from Phoenix Group and will then return to his role as Chairman of the Board of Directors and Chairman of the Nomination Committee at Phoenix Group in November 2023.  

An Interim Chair will be appointed in due course from the members of the current Board, subject to regulatory approvals. The Interim Chair will hold the position until Nicholas Lyons re-assumes the Phoenix Chair position from November 2023 at the end of his tenure as Lord Mayor.

-Ends-

Enquiries

Shellie Wells
Head of Corporate Communications
Phoenix Group
07872 414 137 / 0203 735 0922
Shellie.wells@thephoenixgroup.com

Notes to editors

About Phoenix Group

Phoenix Group is the UK’s largest long-term savings and retirement business with c.14 million customers and £338 billion of assets under administration across both our Heritage and Open businesses.

Our Heritage business, where we are the market-leader, is focused on the safe and efficient management of insurance policies. The Heritage business comprises products that are no longer actively marketed to customers, and where we have stepped in as the custodian of these policies. We have built this business through the consolidation of over 100 legacy insurance brands. 

Our Open business comprises products that are actively marketed to new and existing customers and has five separate business units. Our Workplace pensions and Customer Savings & Investments (“CS&I”) units operate under the Standard Life brand and manufacture long-term savings and retirement products to support people saving for their future. 

The Retirement Solutions unit within Open includes both vesting annuities and our Bulk Purchase Annuity (“BPA”) business, where we acquire annuities and deliver the financial stability required to secure pensions currently provided by corporates. 

The Open business comprises our market leading brand – “SunLife” – which sells a range of financial products specifically for the over 50s market and our European business unit which spans Ireland, Germany and the International Bond segment in the UK and operates under the Standard Life brand.