Standard Life chief executive Andy Curran will retire in the summer after 35 years in the sector and five years at the helm of Standard Life.

The company, part of Phoenix Group, said he had transformed the brand and hit organic growth targets two years ahead of schedule.
 

He had previously held senior executive roles across the industry, including as managing director corporate for Aviva UK Insurance and UK chief executive of Friends Life Group.

Andy Curran said: “I have seen many changes first hand since I joined this sector 35 years ago and the industry’s role in society continues to be more important than ever.

“It has been a privilege to lead the team at Standard Life and be part of Phoenix Group since 2020. It has been a great company to work at over the past five years and with the leadership team in place I know it has a fantastic future ahead of it.”

In 2020, he set out a growth strategy for Standard Life which focused initially on the workplace and bulk purchase annuity markets.

The company said he played a key role in the business hitting its £1.5bn new business long-term cash target two years ahead of schedule in 2023 and he also focused on reinvigorating the historic brand and extending the range of retail savings products offered to customers.

When he leaves in the summer the company will move to a flatter leadership structure which will see the retirement solutions and asset management divisions coming together to create a new business unit, led by Phoenix Group chief investment officer Mike Eakins.

The structure is designed to create opportunities for the group to deliver benefits from bringing the capital intensive elements of its business into one place and develop retirement propositions together. Tom Ground, chief executive, retirement solutions, will report into Mr Eakins and remain a member of the executive committee.

Andy Briggs, Phoenix Group chief executive, said: “Andy has been inspirational in transforming and turning around the business and he has been a tireless champion of customer interests.

“The future is exciting for Standard Life and we look forward to harvesting the benefits of the strategy that the team have put in place under Andy’s leadership. I wish him well in his retirement.”