Closed life and pension fund consolidator Phoenix Group Holdings plc, owner of the “old” Standard Life Assurance, announced the appointment of entrepreneur Maggie Semple as an independent non-executive director with effect from June 1, 2022.

Phoenix also announced the appointment of Stephanie Bruce, chief financial officer of Abrdn plc, as a non-executive director with effect from July 1, 2022.

Edinburgh investment giant Abrdn has a strategic partnership with Phoenix and retains a 10.4% shareholding in the group.

“Stephanie has been nominated for the appointment by Abrdn in accordance with the terms of the relationship agreement between Phoenix Group and Abrdn,” said Phoenix.

“Stephanie will replace Mike Tumilty who will resign from the Phoenix Group board as the current Abrdn nominated non-executive director with effect from 30 June 2022.”

Phoenix added: “Maggie is a successful businesswoman and entrepreneur, with a career history spanning across education, government, non-profit and commercial roles.

“Over the last 15 years, Maggie has also gained broad experience as a non-executive director in a number of different organisations, such as Her Majesty’s Court Service, the Criminal Cases Review Commission, the Ministry of Justice (Chair of Audit, Risk & Compliance) and McDonald’s Restaurants.”

Phoenix Group chairman Nicholas Lyons said: “I am delighted that Maggie will be joining the Phoenix Group board.

“Maggie brings a wealth of experience to the group, including solid customer focus and support for growing businesses.

“She has a passion for sustainability, ethics and inclusivity, which we believe will enhance our ever increasing focus on ESG at Phoenix.

“We look forward to welcoming Maggie as a new addition to the board …

“I would like to thank Mike for his excellent contribution to the board since joining in September 2019.

“We wish Mike every success in the future.

“I look forward to welcoming Stephanie as a new non-executive director to the board.

“Stephanie is a highly experienced financial services practitioner with significant sector knowledge, both technical and commercial, and I am confident that her extensive experience will add great value to the board.”