Canada Life appoints new Managing Director for its Retirement business

Canada Life has appointed Peter Maddern as Managing Director of Retirement, effective from mid-February 2025 subject to regulatory approval.

Peter will join the Canada Life UK Executive Committee and report to UK Chief Executive Lindsey Rix-Broom.

Peter is a highly experienced executive with a long and successful career at Canada Life, where he has held a variety of roles over 18 years. Most recently, Peter held the position of Vice President, Capital Management at Canada Life UK’s Canadian parent company. Prior to this, Peter spearheaded Canada Life’s Bulk Purchase Annuities (BPA) strategy as BPA Strategy and Commercial Director, and played a pivotal role in the development of Canada Life’s Wealth business during his six years in the Wealth Management leadership team.

He succeeds Tom Evans, who is leaving the business to pursue a new opportunity. Tom led Canada Life’s home finance business following the acquisition of Retirement Advantage in 2018 and played a key role in bringing together the individual annuity and home finance propositions to form Canada Life’s Retirement business.

Lindsey Rix-Broom, Chief Executive, Canada Life UK, said:

“I am thrilled to welcome Pete back to the UK business as Managing Director of Retirement. He is an exceptional leader, and his deep knowledge of the retirement market and Canada Life will be a great asset as we continue to grow and strengthen our proposition to consumers and advisers, and deliver on our mission to build better financial futures for our Retirement customers.

“I would also like to thank Tom for his contribution to Canada Life over the last six years. He leaves the Retirement business in a very strong position, and I am grateful for his leadership and commitment to delivering positive outcomes for our customers, advisers and the business.”

Peter Maddern, Managing Director, Retirement designate, said:

“I am delighted to be returning to Canada Life UK as Managing Director of Retirement. With increasing life expectancies and an evolving retirement landscape, the needs of our current and future customers are growing and changing. This presents exciting opportunities for Canada Life to further our mission, innovate for the future, and drive forward the business. I am looking forward to leading a talented team and working in partnership with advisers and intermediaries to realise this potential.”

 

-ENDS-

Notes to editors

Enquiries:

Press enquiries should be directed to:

Rebecca Gladstone, Canada Life, +44 7833 085387, rebecca.gladstone@canadalife.co.uk

 

About Canada Life:

Canada Life is part of a group of companies controlled by Great-West Lifeco Inc., a Canadian headquartered, international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. Through its subsidiary companies, Great-West Lifeco operates in Canada, the United States, and Europe. Great-West Lifeco trades on the Toronto Stock Exchange under the ticker symbol GWO and is a member of the Power Corporation group of companies.

Canada Life Limited began operations in the United Kingdom (UK) in 1903 and provides UK individuals and businesses with a range of retirement, investment, insurance and wealth solutions. Canada Life offers individual annuities, pension de-risking solutions, home finance, estate planning and investment options, and workplace protection products.

Canada Life Limited (no.973271) is registered in England and Wales, authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Stonehaven UK Limited (no.05487702), trading as Canada Life, is registered in England and Wales and is authorised and regulated by the Financial Conduct Authority. Canada Life International Limited (no.033178C) and CLI Institutional Limited (no.108017C) are Isle of Man registered companies authorised and regulated by the Isle of Man Financial Services Authority. Canada Life International Assurance (Ireland) DAC (no. 440141) and Canada Life International Assurance (Ireland) DAC are authorised and regulated by the Central Bank of Ireland.

Canada Life Asset Management is the brand for investment management activities undertaken by Canada Life Asset Management Limited (no.3846821), Canada Life Limited and Canada Life European Real Estate Limited (no.03846823). Canada Life Asset Management Limited is authorised and regulated by the Financial Conduct Authority.

Please note that while Canada Life Limited and Canada Life Asset Management Limited are regulated as stated above, property management and the provision of commercial mortgages are not regulated activities.

 

www.canadalife.co.uk

www.canadalifeassetmanagement.co.uk