Phoenix hires Michael Eakins as CIO
Michael Eakins has been appointed as chief investment officer (CIO) at Phoenix Group, subject to regulatory approval and completion of the acquisition of ReAssure.
Eakins has been CIO of ReAssure since last June, and has previously served as a manging director and head of European pension and insurance at Goldman Sachs, and an actuarial consultant at EY.
The acquisition of ReAssure was announced in March and is expected to complete in the next few months, creating a firm with around £330bn of assets under administration.
Chief executive (CEO) Andy Briggs said: "Under Michael's leadership, the team is going to step up its activities, not least because we recognise that direct investment is an important mechanism to support the economy following the Covid-19 lockdown.
"With our investment partners, we are actively looking for opportunities to support important projects to provide long-term funding to social housing, education, infrastructure, and local authorities that have faced funding challenges during the pandemic."
A key focus for Eakins and his team will be investing assets in an ESG-conscious way, with a proactive approach to responsible investment.
Eakins said: "Phoenix is already committed to having a positive impact on both environmental and social considerations through its investments, and to aligning its investment portfolio with the evolving beliefs of its customers.
"I'm very much looking forward to taking on this new role and leading a team of investment professionals at Phoenix at this crucial time for the UK, where the positive impact and sustainability of future investments over the long term has become even more important."
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