Wealth Manager - the site for professional investment managers

Register to get unlimited access to 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 French fund CEOs: 'Brexit is a lose-lose situation for all of us'

French fund CEOs: 'Brexit is a lose-lose situation for all of us'

'We'll all lose out - but London is an international city, Paris is not.' Leading French asset management CEOs tell us what they think Brexit will mean for the investment business.

Play Henderson Eurotrust's Stevenson: dealing with European cynicism

Henderson Eurotrust's Stevenson: dealing with European cynicism

Tim Stevenson talks about where he finds his opportunities in the current environment in Europe

Play Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Read More
Wealth Manager on Twitter