David Kneeshaw is to step down as IFGL’s CEO at the end of April 2025, after 21 years in the role.
While Kneeshaw (pictured) will be retiring from full-time work, he will stay on as a special adviser to the IFGL Board and, subject to regulatory approval, will also be the chairman of IFGL’s business in the DIFC in the UAE.
Kneeshaw’s successor as CEO has already been appointed and the details will be announced in April. The new CEO will take the reins from 1 May 2025.
He became CEO of what was then Scottish Life International in 2004 and together with sales director Simon Pack and managing director Mike Crellin devised and implemented a strategy to grow the business organically, by opening up new markets and through Merger and Acquisition (M&A). These guiding principles still remain at the very heart of IFGL’s strategy, the statement said.
Kneeshaw led IFGL through a management-led buyout from Royal London in 2013, and the acquisitions of Scottish Provident International, Clerical Medical International, Ardan International, Friends Provident International and Sovereign Pension Services. In 2023 he guided IFGL through the process of Cinven becoming IFGL’s majority shareholder. He is regarded as one of the industry’s most well-known figures and is a regular contributor to industry events.
“It was always my intention to step down once the dust had settled after the Cinven investment,” said Kneeshaw. “I’m now 68 and I don’t intend to still be CEO in 4 or 5 years. It’s the right time for a new CEO to take the business forward.”
News of his successor, who will be an external appointment from outside IFGL, will be announced in April. “I am convinced my successor is an exceptional leader,” said Kneeshaw, who was involved in the recruitment process. “He has experience in The City and a good understanding of the adviser and international markets.”
Looking back on his 21 years at IFGL, he added: “The past 21 years have been the most extraordinary and momentous period of my working life. We have built a business that is 20 times the size it was in 2004. We are now a business of 7 different principal brands.
“Despite the growth we’ve stuck to the very important principles that have always been the core building blocks of our success. I’ve always believed that if you provide great products, great service and forge strong relationships with advisers, regulators and other stakeholders then good things will follow.
“Private equity backing has helped us to be dynamic and fleet of foot and has provided the financial backing to help us achieve our M&A successes.
“The future looks very positive for IFGL. Sales are robust, we’ve maintained our strong adviser relationships and we are making a huge investment in our technology infrastructure that is well underway. We have owners who share our ambitions for further M&A as and when attractive opportunities become available.”
Kneeshaw is looking forward to having more time with his family in retirement and “spending more time doing the things I enjoy, such as skiing, golf and cycling. There are some other, smaller projects that I’ve been asked to be involved in, that I will look at over the Summer. But I am definitely retiring! And I’m delighted that I will still have some involvement with IFGL and will help in whatever way is needed.”
He’s also in training to tackle the famous Isle of Man Parish Walk in June, with the target of walking the 32.5 miles to Peel.
“What we have built at IFGL is very special. Hundreds of people have helped along the way, but I want to say a special thank you to Mike Crellin and Simon Pack, who’ve been with me every step of the way. Without them what has been achieved would not have been possible, he said.
