Phoenix Group makes senior hires to Bulk Purchase Annuities team

29 September 2021

Phoenix Group (“Phoenix”), the UK’s largest long-term savings and retirement business, today announces five new appointments to its Bulk Purchase Annuities team. Mark Fenlon has joined to lead the Annuity Client Services Team, Matt Richards and Rhian Littlewood join as Senior Business Development Managers, and Jack Hill joins as Senior Pricing Manager. Charlotte Fletcher also joins the business as a Business Development Actuary.

Phoenix continues to develop and grow its expert Bulk Purchase Annuities franchise, focussing on value oriented deals, expanding its proposition and developing its operating model. Mark, Matt, Rhian and Jack join the Bulk Purchase Annuities team each with over a decade of experience in the de-risking space.

Mark has joined the team from Aviva, where he was responsible for growing and leading both BPA Operations and Reinsurance Operations. Leading the Annuity Client Services team, Mark will be responsible for all post-sale elements of our annuity transactions, ensuring an optimal operating model to provide customers with a flexible and seamless experience.

Matt joins the team after 10 years in the Origination team at Pension Insurance Corporation where he was responsible for managing, structuring and executing buy-ins, buyouts and captive reinsurance transactions. Rhian brings a decade of consulting experience, having previously worked within the Risk Settlement team at Aon, advising on and executing bulk annuity contracts for pension schemes. Matt and Rhian will share responsibility for leading the new business transactions team.

Jack has joined the team from Mercer where he was a Principal in the Risk Transfer Team, specialising in bulk annuity transactions, longevity swaps, liability management exercises and advising pension schemes on long-term strategy. Jack will be focussing on improving commercial aspects of the BPA business, including the expansion of the BPA product proposition.

Justin Grainger, Phoenix Group’s Head of Bulk Purchase Annuities, said:

“We are delighted to welcome Mark, Matt, Rhian, Jack and Charlotte to the Phoenix Bulk Purchase Annuities team. As we continue to grow our BPA business, we are attracting the best talent in the market and our new cohort of hires is testament to that. Our growing team signals our commitment to our customers and to becoming a market leader in the BPA business.”

Phoenix recently announced £1.4bn of BPA business for 2021, including a £1bn buy-in with the Pearl Group, one of its own schemes.

Source: Phoenix Group