Khor Hock Seng will take on a new role as chief executive of FPI and Chris Wei is to become chairman, as of 1 July. Van Der Wielen will remain on FPI’s board as non-executive director.
The Isle of Man-based firm announced that Van Der Wielen would be stepping down from his role as executive chairman at the end of March, shortly after shareholders gave the greenlight on the Aviva takeover.
In April, Chris Wei – who is currently chief executive of Aviva’s Global Life Insurance arm and chairman of its Asian division – took full responsibility for FPI following Aviva’s acquisition of Friends Life Group. He will establish and track the strategic direction and priorities of the business, while continuing to be responsible for his existing roles.
Hock Seng, who was appointed as chief executive of Aviva Asia in 2013, will work closely with the senior leadership team to run the day-to-day operation of the business. He will continue to report to Wei and will also be taking on additional responsibility.
“I am excited about FPI’s potential,” said Wei. “Aviva Asia and FPI are largely complementary and today’s appointments confirm our intention to bring both businesses closer together, maximising their combined potential and accelerating our growth in selected markets in Asia and the Middle East.
“I wish to thank John Van Der Wielen for the instrumental role he has played at FPI, and we are delighted he will remain on FPI’s board as a non-executive director.”
Friends Life agreed the terms of acquisition with Aviva in December last year.
Growth opportunity
Hock Seng said: “Aviva Asia and FPI have a significant opportunity for growth.
“By bringing the businesses closer together we can provide a wider and more innovative range of savings, investment and insurance products to our valued customers and partners.”
He added: “I am pleased to take on the exciting task of leading FPI in this important phase of growth.”
Both appointments are subject to regulatory approval.
