Royal London makes big changes to its board

Royal London has announced big changes to its board as its two longest-serving non-executive directors, Ian Dilks and Sally Bridgeland, retire.

Dilks was appointed to the board in November 2014 and during his tenure he served as senior independent director and chaired the investment committee.

Bridgeland was appointed to the board in January 2015 and became chair of the with-profits committee.

Tim Tookey has been appointed senior independent director, Nicky Richards has been appointed chair of the investment committee, and Eithne McManus has been appointed chair of the with-profits committee.

Tookey has been a board member since April 2020 and chairs the audit committee.

Royal London describes itself as “the largest mutual life, pensions and investment company in the UK” with assets under management of £153 billion, 8.6 million policies in force and over 4,100 employees.

The group employs roughly 1,000 in Scotland and includes the former Scottish Life and Scottish Provident businesses.

Royal London chairman Kevin Parry said: “I would like to thank Ian and Sally for their contribution and commitment during their time on our board.

“They have been great stewards of Royal London, making significant contributions to the transformation of the business to the modern mutual it is today, including chairing various committees and acting as Board leads for key initiatives.

“I am delighted that Tim Tookey has agreed to become senior independent director. Tim offers tremendous board experience and financial services expertise, and I look forward to working closely with him.

“The with-profits committee and the investment committee are at the heart of our business, and I am delighted that we have recently appointed Eithne McManus and Nicky Richards, two professionals with highly relevant experience, to chair those committees.”