Standard Life appoints Andrew Davies to Chair Independent Governance Committee as long-serving IGC Chair, David Hare, steps down after nearly ten years

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• Appointment maintains strong links between Standard Life’s IGC and the Master Trust Board
• Davies also chairs the Master Trust Board’s Administration and Governance sub-committee and sits on the Communications and Engagement sub-committee

Standard Life, part of Phoenix Group, announces the appointment of Andrew Davies¹ as independent chair of its Independent Governance Committee (IGC)² which oversees the interests of just over 3 million workplace and Investment Pathways personal pension scheme members.

A member of the Standard Life IGC since September 2023, Andrew will take up his role as Committee Chair on 1 January 2025.

He also sits on the Standard Life Master Trust Company Board (SLMTC), a trustee director role he’s held since January 2020, chairing its Administration and Governance sub-committee and sitting on its Communications and Engagement sub-committee³.

Current IGC Chair, Dr. David Hare will step down on 31 December 2024, retiring after nearly ten years, having chaired the IGCs of eight Phoenix Group companies during this tenure including the Standard Life IGC, since 2019, and the Phoenix Life IGC since 2015.⁴

Andrew Davies, Chair Elect of the Standard Life Independent Governance Committee said: “As pension savers face an environment that continues to place more pressures on their finances, the role of the IGC has never been more important. Having sat on the IGC with responsibility for the Communications and Engagement Value for Money (VfM) workstream, I’m acutely aware of the importance that value for money, sustainable investment and strong governance practices play in protecting the best interests of pension savers. I look forward to building on David’s excellent work and to continue scrutinising how Standard Life manages its customers’ savings and working on their behalf to secure good retirement outcomes.” 

Commenting on the changes to the IGC, Gail Izat, Managing Director of Workplace and Retail Intermediary at Standard Life said: “We wish David well in his retirement. He has worked tirelessly on behalf of customers for nearly a decade, helping elevate the level of oversight and rigor applied to managing our pension schemes. Having also worked with Andrew in recent years, I am pleased that his appointment, as IGC Chair, will facilitate continuity across the important work of the IGC, whilst maintaining strong links with the Master Trust board.”
 

ENDS

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Notes to editors:

1. Andrew Davies
Chair Elect - Standard Life Independent Governance Committee (01/10/25)
Andrew is an experienced strategist, marketer, and business development professional. His career of over 35 years spans the breadth of Financial Services covering pensions, wealth management, life, healthcare, and general insurance.

Andrew has held a wide range of senior management positions. He was previously Director of Marketing Strategy & Customer Insight for AXA UK & Ireland during which he established their first customer centricity strategy. Whilst Head of Strategic Development for AXA Life, Andrew created the initial strategy, and was one of the founder members of the Elevate investment platform (now abrdn Elevate).

Andrew currently runs his own management consultancy business specialising in strategic change and business transformation as well as training and coaching senior managers. He also chairs a business mastermind and networking group for CEO’s of small / medium sized companies in the South-West. Andrew has qualified as a Chartered Insurer and Financial Planner in addition to holding separate professional Project, Process and Proposal Management qualifications and he is an Accredited Professional Trustee with the Pensions Management Institute. Andrew is also a board director for the Standard Life Master Trust Co. Ltd.

2. Standard Life Independent Governance Committee members:

• Dr David Hare – Chair and Independent Member (Retiring 31/12/24)
• Andrew Davies – Chair Elect and Independent Member (01/01/2025)
• Maggie Craig – Independent Member
• Rachel Haworth – Independent Member
• Andrew Milligan – Independent Member
• Steven Blight – Employee Member

3. SLMTC Sub-Committee Structure:

• Administration & Governance: Chair, Andrew Davies; Trustee Member, Catherine McKenna
• Communications & Engagement: Chair, Gurmukh Hayre; Trustee Member, Andrew Davies
• Investments & Sustainability: Chair, Caroline Escott; Trustee Member, Gurmukh Hayre

4. Dr David Hare
Independent Chair Standard Life Independent Governance Committee: Retiring 31/12/2024

David joined the Standard Life IGC as Independent Chair in April 2019 and has been the Independent Chair of the Phoenix IGC since 2015 and the ReAssure IGC from 2021.

About Standard Life 

• Standard Life is a brand that has been trusted to look after peoples’ life savings for nearly 200 years 
• Today it proudly serves millions of customers who come to Standard Life directly, through advisers and through their employers’ pension scheme.
• Standard Life is part of the Phoenix Group, the largest long-term savings and retirement business in the UK. We’re proud to be building on nearly 200 years of Standard Life heritage together
• Our products include a variety of Pensions, Bonds and Retirement options to suit people’s needs, helping our customers to invest and save for their future. We’re proud to offer a leading range of sustainable and responsible investment options.
• We support our customers on their journey to and through retirement with comprehensive, easy-to-understand guidance so they can invest in the right way for their needs, and plan a future they feel confident about.
• Standard Life is the proud headline sponsor of Race for Life, Cancer Research UK’s flagship fundraising event series.