Who are the With-Profits Committee members?

Brian Duffin MA, FFA, CCMI (Chairman)

Brian is an actuary with over 40 years’ experience working in the life and pensions industry.

He spent over 20 years of his career at Scottish Life, where he became the Group Chief Executive between 1999 - 2001. After the merger between Scottish Life and Royal London, Brian was appointed Director, then Executive Director of the Royal London Group, (this included Chief Executive responsibility for Scottish Life & the Chairmanship of Scottish Life International).

Since 2007, Brian has undertaken a wide range of Non-Executive roles. Current positions include Chair of Audit Committee and Non-Executive Director of the Debt Management Office (which is the agency of HM Treasury responsible for issuance of government debt and other market functions); Chairman of the GEC Pension Scheme; Non-Executive Director of NFU Mutual Insurance Society Limited; Trustee and Chair of Audit and Investment Committee of Medical Research Scotland. This is a charity established by statute to promote medical research in Scotland. Vice-Chairman of the Church of Scotland Investors Trust (which manages the central and congregational funds of the church.)

Brian’s recent professional appointments include member of the Disciplinary Appointments Committee, Institute and Faculty of Actuaries. Prior to this, he was a member of the Investigations Committee of ICAS (the Institute of Chartered Accountants in Scotland).

Mike Bolton

Mike is an actuary and has 40 years experience working in the life and pensions industry. His career was with Legal & General where he held a wide variety of senior management roles, including Chief Actuary for the Group from 2002 to 2010.

Since leaving Legal & General, Mike has accepted a number of non-executive roles; he was appointed as an independent member of the With Profits Committees of the former AXA companies in September 2010 and the Friends Life companies in March 2011.

He is also a non-executive director of HSBC Life (UK) Limited

Frances Davies

Frances has had various roles within the banking and asset management sector for over 30 years.

In 1995, Frances joined Morgan Grenfell Asset Management where she established and headed a very successful pooled funds pension business.

She became Chief Executive of GMO Woolley in 2001 before becoming Director & Head of Institutional business at Gartmore in 2002. From 2005 she ran the investment trust business also at Gartmore.

Frances is currently a partner at Opus Corporate Finance.

Frances has a degree in Philosophy, Politics and Economics and an M.Phil. in Management Studies from Oxford University.

Janet Fuller

Janet has over 30 years’ experience working in the life insurance industry having qualified as an actuary in 1983. She has been a member of the Institute and Faculty of Actuaries since 1987. Janet spent her early career working in the life insurance sector in Canada.

After two years working for KPMG, Janet was recruited by Britannic Assurance. She was appointed Senior Project Manager of a large transformational Change Programme in 1997.

Between 1999 and 2013 she held various senior roles at Sun Life Financial of Canada’s UK subsidiary, including Legal and Compliance Director and Chief Operating Officer. Janet was the Chief Executive Officer from 2004 to 2013.

Janet was appointed as an independent member of With Profits Committee of Friends Life Limited and Friends Life and Pensions Limited in June 2014.

Howard Jacobs

Howard Jacobs is chair of trustees of a Cambridge University Pension Scheme and a member of the Actuarial Council. He is also a trustee of the River and Rowing Museum Foundation

For most of his career, Howard specialised in employment, pensions and equity incentive advice at the London law firm of Slaughter and May. Following his retirement in 2002, Howard pursued various business and charitable activities including 10 years as a trustee for the Universities Superannuation Scheme, the principal pension scheme for UK Academics. He was a founding member of what is now the Advisory Council of the United Nations supported Principles of Responsible Investment Initiative.

David Still

David Still is Managing Director of Aviva’s UK and Ireland ‘Heritage’ business, which incorporates most with-profits policies. He joined Friend Life in 2011 as Managing Director of its Retirement Income business.

David started his career at Prudential, training as an actuary before taking on the commercial management of Prudential's individual retirement business in 2000. In 2006, David joined Paternoster, an annuity company, where he was Pricing Director. Before joining Friends life, David also spent a period in the banking sector developing longevity trading solutions where he sat on the Board of Life and Longevity markets Association.

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