Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Clive Cowdery and John Tiner step down from Resolution

Clive Cowdery and John Tiner step down from Resolution

Clive Cowdery (pictured) and John Tiner are to step down from the board of Resolution Limited, the insurance consolidator which they founded in 2008 following the sale of Resolution Plc.

Both men were non-executive directors at the company. ‘Both now believe, as the group has completed its restructuring phase, that it is the right time to step down from the board,’ the company said in a statement.

The announcement followed results for 2013 reporting a 59% increase in operating profit from £382 million to £489 million.

Having completed a three year restructuring the company said it would seek approval at this year’s annual general meeting to drop the Resolution name and rebrand as Friends Life Group.

‘We reached a significant turning point for the group in 2013, and are entering a new and exciting chapter for Resolution,’ said chief executive Andy Briggs.

‘When we started the restructuring and transformation journey, the group was generating less than £100 million of sustainable free surplus. In 2013, this has risen to £331 million.

‘In 2014 we intend to create a unified brand for the group, subject to shareholder approval, renaming our parent company Friends Life Group Limited, reflecting the unified structure and governance of the business.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: The adviser that tempted Robin Minter-Kemp on board

Profile: The adviser that tempted Robin Minter-Kemp on board

It is rare to meet an impassioned individual who is willing to bang the drum for investment advisory right now

Wealth Manager on Twitter