International Financial Group Limited (IFGL) - owner of RL360, Friends Provident International Limited (FPIL) and Ardan International Limited has restructured its top level management.
IFGL Group CEO David Kneeshaw, pictured above, will remain firmly at the helm but will share out some of the operational responsibilities with Mike Crellin, who was formerly Finance and Commercial Director. Crellin has the role of Managing Director of IFGL's Insurance Division and Alistair Brogden has also been appointed IFGL's Finance Director. Donald Macleod takes on Brogden's former role as RL360 Appointed Actuary.
These changes have received the necessary regulatory approvals with Crellin, pictured below right, having officially taken up his new role on 1 January 2021. He is assuming overall day to day responsibility for the operations of the Insurance Division and oversight of the key corporate projects, the company said.
Crellin continues to report to David Kneeshaw who has taken the role of Group Chief Executive IFGL. Kneeshaw will concentrate on IFG Group matters and he remains Chair of the IFGL Executive Committee. He will also retain overall responsibility for group strategy and market facing activities.
In this exclusive video above, Kneeshaw fully outlined the thinking behind the move, that was announced via a statement released earlier today. He firmly pointed that he is "not stepping back" and that the restructure has been on the cards for a while.
The onset of the global pandemic, which has meant that it was Kneeshaw has been unable to conduct his regular weekly visits to the IFGL HQ on the Isle of Man for almost a year, has also played in a part in the decision, he told II.
The statement said that IFGL has grown significantly in recent years - and in particular following the acquisition of FPIL in July. It is important that the strength, experience and structure of the management team is reviewed periodically to reflect this growth and ensure it remains appropriate to the needs of the
"While we have enhanced the Group governance processes and significantly strengthened the skill set and breadth of the management team over the last five years, completion of the FPIL acquisition has been the catalyst for a wider review of the management team structure," the statement read.
The role changes give the management team more "strength and depth, a greater resilience and enhances the Isle of Man as central to IFGL and the location where key decisions are made". They are designed to consolidate and accelerate IFGL's position as "a leading provider in the international wealth market".
Group CEO David Kneeshaw said: "The changes announced today give us greater resilience and strength and depth in our management team and more succession planning options.
"IFGL has always prided itself on its independent nature, both in structure and culture. Our Isle of Man roots are important and these changes, in particular the new role taken on by Mike, will cement our Island based operating model."
IFGL Managing Director Mike Crellin said: "IFGL has grown very quickly since 2013, both organically and through acquisition. This new senior management structure provides a strong and appropriate platform for us to continue this exciting trajectory in the years to come."