Royal London has hired experienced industry executive Barry O’Dwyer to be its new group chief executive from September.

Royal London has achieved record profits of £396m in 2018 thanks, in part, to inflows of £4.1bn from external clients.

Royal London has today revealed that both the group CEO, Phil Loney, and chairman of the board, Rupert Pennant-Rea, are to leave the firm.

The ABI has appointed the first woman to chair the organisation in its 100 year history.