Redington appoints CFO
Redington has appointed of Phil Symes as its Chief Financial Officer (CFO) and an executive director on the company's board.
Symes took up the position on 21 August and will also become a member of Redington’s management team.
Symes brings with him a wealth of experience from across financial services, with an enviable reputation for an entrepreneurial mindset and for helping businesses increase efficiencies, drive sustainable growth strategies and build their presence across global markets.
Most recently, he was group CFO for the Cambridge Education Group, a position he took up in 2018. Within this role he was responsible for leading a 50-person Finance Group based in the UK, US and China as well as overseeing potential acquisitions, system solutions and growth strategies.
Prior to this, Symes spent two years as an independent business consultant – advising international firms on new business development, acquisition strategies and economic relocation efforts – and ten years as CFO for Visa Europe, including its sale to Visa Inc in 2016. He has significant experience of working for companies with private equity ownership including Willis Group when it was owned by KKR. He is a fully qualified Chartered Accountant through the Institute of Chartered Accountants in England and Wales (ICAEW).
Symes' appointment follows that of Kathryn Purves as Board Chair in June, and Sandy Muirhead and James Squires from Phoenix Equity Partners as non-executive directors earlier in the year.
In July this year, Redington also appointed Feifei Zhang as Chair of its Chinese technology business, YuYuan Technology (Shanghai) Limited. YuYuan, which is headquartered in Shanghai, was originally incorporated into Redington’s technology business in 2018 and is committed to providing Chinese Insurance clients with dynamic and interactive asset liability management analytics.
Zhang joins from Mountain Creek Investment Management, where he is a Founding Partner, Chief Strategy Officer and Head of Insurance and Innovation. He brings extensive international experience across insurance, pensions, investment banking and private equity investment, having been co-Chief Actuary at Fosun Insurance Group, Actuarial Practice Lead at KPMG – China, and other senior roles at Aviva Group, Deutsche Bank and Watson Wyatt. The hire represents the firm’s continued commitment to the region and in delivering positive outcomes for institutional investors and end beneficiaries through technology.
Redington CEO Mitesh Sheth says: "I am delighted to have Phil Symes join our management team and signal the completion of our board. I’m confident his wealth of international experience will support our ambitious plans for growth and build on the excellent platform that has been created here over the past few years. His appointment, alongside Feifei’s, is a clear commitment to broadening our global footprint and expanding our reach in helping to make 100m people financially secure.
“I am excited to work with our expanded board and management to accelerate the growth in our consulting, global assets and technology business lines, whilst continuing to deliver the high standards of service our clients expect and an inclusive culture for our employees to thrive in."
Symes says: “I’m very pleased to be joining Redington. It is an exceptionally well-run business with ambitious plans and a great reputation, and I’m hugely impressed with all the people I’ve met throughout the interview process. The management team has clearly striven to create an excellent working environment and with the additional strong sponsorship of Phoenix, I am sure that the company will continue to thrive."
Zhang says: "I am pleased to join YuYuan Technology at an exciting time in the company's growth. I have already spoken to most of the board members and the executives at both Redington and YuYuan, and believe we have a great business model that combines the financial services legacy built in the UK and the technology development in China. I look forward to leveraging my past experience to provide advice to the YuYuan Technology board to expand our business in China."