LV= appoints new life and pensions MD

Insurance, investment and pensions group LV= has announced the appointment of Richard Rowney to the role of managing director of its life and pensions business.

Rowney moved into the new role on 1 March, from his previous position of group chief operating officer at LV=. He joined the mutual financial services provider in early 2007 from Barclays, where he held a number of senior positions.

He was appointed as a main board director of LV= in August 2007 and as group chief operating officer he has played a key role in improving the firm's organisational fitness and financial performance over the last three years, said the insurer.

Mike Rogers, LV= group chief executive, said: "We're very pleased to have had an ideal candidate who we could appoint internally, to help us achieve continuity and an immediate transition.

As a main board member of LV=, Richard has been able to build up a good understanding of our life and pensions business and has contributed significantly to the turnaround of the LV= group over the last three years."

Rowney replaces former managing director of the LV= life business Rodney Cook, who moves to Just Retirement in July this year.