Scottish Widows appoints Paul McNamara as non-executive director

3rd September 2024

Scottish Widows has today announced that Paul McNamara joins the company’s Board as a non-executive director from September 2024.

Paul has over 35 years of experience in financial services, with a particular focus on long-term savings, investments, retail banking, asset management and insurance.

During his career, he held consultancy and senior leadership positions at McKinsey, AXA, HBOS and Standard Life. He was Managing Director of Insurance and Investments at Barclays before serving as CEO of IFG Group and most recently EValue, a technology company based in the UK providing digital personal finance advice with products that combine actuarial knowledge, asset modelling and risk management.

Paul stepped down from EValue in 2020 but continued as a non-executive director for its subsidiary start-up, One Financial Advisor Ltd, until 2022. In 2021, he joined Wesleyan as an independent member of the With-Profits Board Committee. He is a member of the Court of the Worshipful Company of Actuaries and is Chair of their Membership Committee.

Paul will bring knowledge and insight to the Scottish Widows’ Board of his previous leadership and advisory roles helping executive teams achieve ambitious strategic aims. He has broad experience of shaping retirement wealth planning strategy, technology and transformation across a range of distribution models.

Scott Wheway, Chair of the Scottish Widows Group Board, said: “Paul’s track record of financial industry experience and achievements is incredibly impressive and his deep understanding of challenges and opportunities across the retirement, investments and insurance markets will be a valuable addition to the Board. We are focused on delivering on our strategy for the benefit of our customers, and Paul’s expertise will support our ongoing work to achieve this.”

Download full press release (PDF, 161KB)

About Scottish Widows

Founded in 1815, Scottish Widows is part of Lloyds Banking Group, the UK’s largest digital bank and financial services group. With nearly £210bn assets under administration and six million customers, Scottish Widows’ award‐winning product range includes workplace and individual pensions, annuities, life cover, critical illness, income protection as well as savings and investment products. Customers can access our products and services through independent financial advisers, directly, and through all Lloyds Bank, Bank of Scotland and Halifax branches.