Canada Life UK has appointed Peter Maddern as managing director of its retirement business.
Maddern’s appointment, subject to regulatory approval, is effective from mid-February.
He will join the executive committee and report to chief executive Lindsey Rix-Broom.
Maddern succeeds Tom Evans, who is leaving the business to pursue a new opportunity.
Evans, who was appointed to the role in May 2023, led Canada Life’s home-finance business following the acquisition of Retirement Advantage in 2018.
He played a key role in bringing together the individual annuity and home-finance propositions to form Canada Life’s Retirement business.
Maddern, who has been with Canada Life for 18 years, rejoins the retirement business from the parent company where he was vice president, capital management.
Prior to this, he spearheaded Canada Life’s bulk purchase annuities strategy as BPA strategy and commercial director.
He also played a pivotal role in the development of Canada Life’s wealth business during his six years in the wealth-management leadership team.
Canada Life UK chief executive Lindsey Rix-Broom described Maddern as “an exceptional leader with deep knowledge” of the retirement market and Canada Life.
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