Friends Life has appointed an interim chief executive for its UK business and has confirmed the sale of its wealth and tax planning arm Lombard.
Andy Curran has joined from Aviva where he was pensions and investments managing director for the UK.
Lombard has been sold to Blackstone in a deal which could total £356m.
John Van Der Wielen, who has led the negotiations for the sale of Lombard, has been appointed executive chairman of Friends Provident International, subject to regulatory and board approvals.
Friends Life said in a statement: "Andy Curran will focus on growing the UK open business, which provides high-quality propositions and services that help consumers save through the workplace, protect them during their working lives and help them to prepare for a secure retirement, optimising returns on the money they save."
He will report to Andy Briggs, Friends Life group chief executive, and he will be a member of the group executive committee.
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Friends Life said in a statement: "Over recent months Friends Life has been working to ensure that the leadership structure of our go to market businesses can meet the post Budget opportunities facing our business.
"As a result of the large business agenda within Friends Provident International (FPI), John Van Der Wielen will be appointed executive chairman of Friends Provident International.
"John will focus his time and energy on the completion of the Lombard transaction and will also continue to drive the FPI business to take it to its next stage of development and growth."
Lombard formed part of the group's initial purchase of Friends Provident in 2009.
Friends Life intends to return £261 million to shareholders via a share buy-back programme to commence upon completion, subject to regulatory approvals, which is equal to the full upfront cash consideration and estimated interest equivalent.
Andy Briggs, group chief executive of Friends Life, said: "It has always had a different profile to the rest of the group and we believe its disposal is in the best interests of both Friends Life and Lombard.
"It allows us to deliver on our commitment to return cash to shareholders when it is appropriate to do so.
"It moves the group further towards being a streamlined life insurance company, focused on serving our customers in the UK and our hubs in Hong Kong, Singapore and the UAE through Friends Provident International."
Menes Chee, managing director at Blackstone, said: "Lombard's compelling value proposition to policyholders, dedication to distribution partners and strong management and employee team have created a unique franchise."