Leadership Transition Marks a New Chapter for Royal London
Big news from Royal London as the company enters a pivotal moment of leadership transition on its Board. As of 2 June 2025, Royal London, the UK’s largest mutual life, pensions, and investment provider, has announced significant changes that reflect both the legacy of seasoned leadership and the promising future ahead.
After five impactful years, Tim Tookey, Chair of the Audit Committee and a non-executive director since April 2020, will be stepping down following the company’s Annual General Meeting on 3 June 2025. His departure comes after a remarkable 40-year career in the City, during which he played a vital role in guiding Royal London through important milestones and strategic decisions. The Board has expressed deep gratitude for Tim's experience and commitment, acknowledging the invaluable insights and oversight he brought to the organisation’s financial governance.
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Stepping into this crucial role is Gregor Stewart, who joined the Board on 2 June 2025 as a non-executive director and is set to take over as Chair of the Audit Committee, pending regulatory approval. Gregor brings a strong foundation in financial services, having qualified as a chartered accountant in 1988 and spending over two decades at EY, including time as a partner in the financial services practice. He later held leadership roles at Lloyds Banking Group, including Finance Director of its Insurance Division, and currently serves on the boards of several major financial institutions such as Direct Line Insurance Group and FNZ Group.
Chair of Royal London, Isabel Hudson, praised both leaders in her statement—thanking Tim Tookey for his years of dedication and welcoming Gregor Stewart as someone who brings an impressive blend of executive experience and board-level leadership, particularly in insurance and asset management.
Gregor himself commented on the honour of joining a mutual with such a strong legacy and focus on delivering long-term value to its members and customers. He emphasized his commitment to supporting Royal London’s continued strategic growth, underlining the importance of customer-focused governance and innovation.
These developments follow closely on the heels of another milestone: Royal London’s successful integration into the Pensions Dashboards Programme. This digital transformation initiative is set to make pensions more accessible and manageable for millions across the UK, further solidifying Royal London’s reputation as a progressive, member-first organisation.
Overall, this board transition signifies more than just a change in personnel—it highlights Royal London’s careful balancing of legacy, continuity, and forward-looking innovation. With strong new leadership in place and strategic digital advancements unfolding, Royal London appears well-positioned for a resilient and customer-focused future.
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