Tue, 08/07/2014 - 16:05
MetLife has appointed Helen Thomas as head of wealth management marketing.
Thomas joins MetLife from Aviva where she was head of marketing communications, responsible for all marketing activity for Aviva's life business. She was with Aviva for 17 years.
At MetLife, Thomas will lead a marketing team looking to capitalise on retirement income rule changes announced in March’s Budget.
MetLife believes that the unit-linked guarantee market, its specialist product area, is set to nearly treble to GBP4 billion a year by the end of 2015 as the Budget reforms highlight the continuing need for certainty on capital and income. It estimates the current market is worth between GBP1.2 billion and GBP1.5 billion a year with providers and advisers focusing on pension pots worth more than GBP50,000.
Claire Oldstein, MetLife’s head of marketing for Western Europe, says: “Helen brings a wealth of experience and knowledge that will be vital in enhancing our market-leading position. The retirement income reforms present considerable opportunities for us. Sales of guaranteed products, which offer flexibility and certainty, will take a much bigger share of the retirement income market in the future as innovation and competition increases.”
Thomas says: “I join MetLife at a very exciting stage in its development. Its dedication and focus on financial advisers has served it well and there are considerable opportunities to grow its business further through innovative sales and marketing support.”
MetLife has supported the Budget’s retirement income reforms by lowering its minimum initial investment to GBP30,000 to enable more customers to benefit from flexibility and certainty ahead of the new rules due in April 2015.
In addition to the cut in minimum initial contributions MetLife has cut regular contributions to GBP1,200 a year from GBP3,600, enabling savers to contribute just GBP100 per month into their pension. Contribution levels will be regularly reviewed.
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