London, United Kingdom - August 23, 2012, London, United Kingdom - Phoenix Group Holdings, a life insurer, announces the appointment of Howard Davies as chairman of the Phoenix Group, effective October 1, 2012.
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Sir Howard was executive chairman of the Financial Services Authority (FSA) from 1997-2003. He was the first chairman of the FSA which he formed it from nine separate bodies. He was deputy governor of the Bank of England from 1995 to 1997.
On October 1, 2003, Sir Davies left the FSA to become director of the London School of Economics where he served until May 2011. He was employed by McKinsey and Company and was Special Advisor to the Chancellor of the Exchequer. He was also previously employed at the Treasury and the Foreign and Commonwealth Office, which included a posting of Private Secretary to the British Ambassador to France.
Sir Davies served for three years as Director General of the Confederation of British Industry, from 1985 to 1986 he was Special Advisor to Chancellor of the Exchequer Nigel Lawson, and from 1987 to 1992 he was Controller of the Audit Commission. He was also a non-executive director of GKN between 1989–1995, and a member of the International Advisory Board of Natwest bank 1991-1995.
In 2004 Sir Davies was elected to an Honorary Fellowship of Merton College, Oxford, and became a non-executive Director of Morgan Stanley. From 2006 to 2010 he was a non-executive Director of Paternoster and he is also a member of the advisory board of the China Banking Regulatory Commission and chairman of the advisory Board of the China Securities Regulatory Commission.
In 2009 Sir Davies was appointed as an advisor to the Investment Strategy Committee of the Government Investment Corporation of Singapore and in 2011 joined its International Advisory Board. In 2010 he became a non-executive Director of Prudential Plc.
Sir Davies was educated at the Memorial University of Newfoundland and Merton College, Oxford, where he gained an MA in Modern History and Modern Languages. In 1979 he was awarded a Harkness Fellowship to attend Stanford Graduate School of Business from where he obtained an MS degree in management sciences. He is succeeding Ron Sandler.
Mr. Sandler was appointed Chairman of the Company on 24 September 2009. He is Chairman of Ironshore Inc, is an adviser to Palamon Capital Partners and was Executive Chairman of Northern Rock plc whilst the bank was in public ownership. Mr. Sandler has an MA from Queens’ College, Cambridge and an MBA from Stanford University. ■