Scottish Friendly, the Glasgow-based financial mutual, has unveiled a new high-profile chairman and bolstered its board just days after reporting the strongest sales figures in its 162-year history.

John McGuigan, who has more than 25 years’ experience operating at senior executive levels and was last year appointed chair of Scottish Rugby, takes over from David Huntley as chairman. McGuigan was previously group customer director at Standard Life parent Phoenix and, prior to that, managing director at Telefonica and chief executive for NHS 24. He also currently holds the position of chair of industry organisation Scottish Financial Enterprise.

In addition, Scottish Friendly has appointed Mai Fenton and Olive Gaughan as non-executive directors. They are said to bring a “wealth of experience and knowledge”, at an executive level, across the investment and insurance sectors.

John McGuigan has more than 25 years’ experience operating at senior executive levels.

McGuigan said: “I look forward to fulfilling the role as chair and using my knowledge and experience to help the society continue to grow from strength to strength for our customers. Scottish Friendly has a bright future ahead and I am excited to be part of that. Our board of directors is made up of diverse individuals who bring passion, experience, guidance and leadership to Scottish Friendly.

“We are delighted to strengthen the team by welcoming Mai and Olive to the board. The breadth of their financial services experience will be a great addition to our already strong board of non-executive directors.”

Departing chairman Huntley has been with Scottish Friendly for more than a decade, as a board member since 2013 and holding the position of chair for the past four years.

Last week, Scottish Friendly reported the strongest new business figures in its history despite “significant” market challenges. Record-breaking sales of £51.1 million, on the industry standard measure of annual premium equivalent, were recorded for 2023, up from £47.7m a year earlier. Assets under management, meanwhile, increased to £4.6 billion last year, from £4.5bn in 2022, the group’s latest annual results reveal.

The number of members increased by 24,000 to 838,000 over the same period. Scottish Friendly currently administers almost two million policies.

Mutually beneficial: Scottish Friendly posts strongest new business figures in 162 years

Scottish Friendly appoints rugby chief as new chairman: names two new board members

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