Scottish Life announces IAC appointments

Scottish Life

18 January 2013

Scottish Life announces IAC appointments

Scottish Life, the pensions specialist arm of the Royal London Group, has announced the appointment of Julius Pursaill as Chairman of the Investment Advisory Committee (IAC), and Hugh McKee as a member of the IAC. Julius originally joined the IAC as an independent member in November 2011.

Julius Pursaill has over 20 years investment management experience, including senior roles at Mercury Asset Management and Merrill Lynch. Julius retired in 2001 and has since acted as Non-Executive Director for a number of technology-based companies in the financial services sector. He is a Trustee member of the National Employment Savings Trust (NEST).

Hugh McKee, a qualified Actuary, has held a number of senior positions in the life insurance industry including Investment & Savings Director and Corporate Development Director at Prudential; Head of UK New Business at Resolution; Managing Director, Scottish Provident.

Most recently Hugh has been Managing Director of Caledonian Life before taking on the role of Chief Executive, Royal London Intermediary Division in June 2012. Hugh is also a Trustee of the Airdrie Savings Bank.

Hugh joins existing IAC members:

Phil Loney, Group Chief Executive, Royal London Group Andy Carter, Chief Executive Officer, Royal London Asset Management Ewan Smith, Managing Director, Scottish Life Colin Taylor – independent member Julius Pursaill – independent member

The IAC meets on a regular basis to review the Scottish Life risk-graded Governed Portfolios and fund range. The committee takes a long-term view to ensure that investment decisions are based on sound fundamentals.

Julius Pursaill said: "At the heart of truly effective governance is the notion of independence. With this appointment, therefore, Scottish Life underscores its commitment to acting in the best interests of its policyholders. Scottish Life already employs a highly

sophisticated risk and performance management framework to underpin the work of the IAC and I am excited at the prospect of working with other members of the IAC to ensure it retains its market leading status by continuing to evolve."

-ENDS-

For further information please contact: Scottish Life Alasdair Buchanan 0131 456 7133 Redleaf Polhill Jenette Greenwood Marlene Scott 020 7566 6750

Editor’s Notes:

Scottish Life was founded in 1881 in Edinburgh as a proprietary company, becoming a mutual company in 1968.

On 1 July 2001, Scottish Life demutualised and transferred its business to The Royal London Mutual Insurance Society Limited. Scottish Life is a division of Royal London and is the specialist pensions business within the Group, providing individual and group pensions to the market via intermediaries.

Scottish Life and Royal London’s other intermediary businesses are based mainly in Edinburgh where 1,090 staff are employed, with 770 working in other parts of the UK and overseas.

Awards received by Scottish Life in 2012 included:

Financial Adviser Service Awards (Life and Pensions) • Five star award for service and rated top provider Investment, Life & Pensions Moneyfacts Awards • Best Pension Service (for the third consecutive year) • Best Income Drawdown Provider Money Marketing Financial Services Awards • Company of the Year • Best Pension Provider FTAdviser.com Online Service Awards • 5 star award for online service (Life & Pension category) for sixth year running Corporate Adviser Awards • Ultimate Default Fund for the Governed Range (for third year running)

Financial Adviser Life & Pensions Awards • Pension Provider of the Year • Group Pensions Provider of the Year • Individual Pensions Provider of the Year

Royal London Group is a specialist financial service provider. Its businesses focus on those sectors of the market which value quality propositions, operating through a number of brands: • Scottish Life – UK pensions market • Bright Grey – UK protection market • Scottish Provident – UK protection market • Caledonian Life – ROI protection market • Royal London 360° – offshore investment markets • RLAM – fund management • Royal London Plus – life and pensions administration • Ascentric/IFDL – Wrap platform • MoneyVista – online financial planning service for consumers

Royal London is the largest mutual life and pensions company in the UK with Group funds under management of £48.7 billion. Group businesses serve around 4 million customers and employ 2,930 people. Figures quoted are as at 30 September 2012.