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Liverpool Victoria Financial Services Ltd, a life insurance and retirement investment firm that trades as LV=, on Monday said it has hired David Hynam as its new chief executive.
Hynam joined LV= on Monday, replacing Mark Hartigan, whose departure the company announced back in July and who will leave this coming Friday.
Hynam has 30 years experience in retail financial services, LV= noted, including as CEO of heath insurance provider Bupa's UK and Global markets. Hynam also was UK CEO of Friends Life and and oversaw the UK and Ireland operations of French insurer AXA SA.
‘I look forward to introducing David at our [annual general meeting] in October, as his appointment marks a new era for LV=,’ said Chair Simon Moore.
‘At the AGM, I will also give an unprecedented address directly to our members so that they are the first to hear about the steps David and I are taking to demonstrate that transparency and fairness will be at the heart of our mutual business going forward.’
Hartigan stepped down after a failed attempt to sell LV= to a US private equity firm Bain Capital. LV= members voted against the deal back in December. Previous LV= chair Alan Cooke also departed, replaced by Moore.
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