New hire reinforces commitment to best-in-class asset management team
Phoenix Group (“Phoenix”), the UK’s largest long-term savings and retirement business announces the appointment of Tom Sumpster as Head of Private Debt Direct Origination. Tom will work closely with Chief Investment Officer Mike Eakins, and will design and implement Phoenix’s direct origination strategy for private debt as well as lead and co-ordinate Phoenix Group’s direct origination through banks, sponsors, advisors and intermediaries.
Phoenix currently has £323 billion of assets under administration and an investment team of market leaders and experts across liquid credit, illiquid assets (with a key focus on infrastructure and social housing), and rates markets. The Group’s purpose is to help people secure a life of possibilities, and it is committed to building a strong and sustainable business to deliver on this. Investing sustainably and building in-house investment expertise are integral to this commitment.
Tom has over twenty years of experience including at Santander Group where he worked in debt capital markets, Royal Bank of Canada, where he spent 9 years as Head of Acquisition Finance, Global Investment Banking and most recently at Legal & General Investment Management as Head of Infrastructure, Real Assets.
Commenting, Michael Eakins, Chief investment Officer, said:
“Tom will be a great addition to our asset management team and a terrific hire for Phoenix. His vast expertise and global experience will ensure that he will hit the ground running as we continue to grow our investment portfolio in line with our sustainability agenda. I’m looking forward to welcoming him on board as we look to expand our footprint in private debt markets, including investing in a regionally diversified manner in the UK and playing a key role in helping to build Britain back better.”
Tom Sumpster added:
“I am extremely excited to be joining Phoenix Group and working with some of the best minds in the investment industry. Phoenix’s clear strategy and business model is a huge draw for me and I look forward to immersing myself within the company and its culture.”
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Enquiries
Dilesh Sangaran
PR Manger
Phoenix Group
07974 604 323 / 0203 735 0942
Dilesh.sangaran@thephoenixgroup.com
Notes to editors
About Phoenix Group
Phoenix Group is the UK’s largest long-term savings and retirement business with 13.9 million policies and £323 billion of assets under administration across both our Heritage and Open businesses. Our broad range of products means we can support people across all stages of the life savings cycle
Our Heritage business, where we are the market-leader, is focused on the safe and efficient management of insurance policies. The Heritage segment 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.
Our Open business also 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 operates under the Standard Life brand and spans Ireland, Germany and the International Bond segment in the UK.