The Exchange has appointed David Child as managing director with effect from May 1.
The appointment is part of an internal reorganisation of parent company Marlborough Stirling which will provide greater clarity of responsibility for operational and financial performance of its individual business units.
The internal organisation of Marlborough Stirling is to be realigned as three business units; Life andd Pensions Division, Mortgages Division and The Exchange. David Thomas has been appointed managing director of the Life and Pensions Division. Sue Summers, previously managing director at The Exchange, has been promoted to deputy managing director of the significantly larger Life and Pensions Division. David Edwards will remain managing director of the Mortgage Division.
Child, previously chief operating officer at The Exchange, will have overall responsibility for all areas of The Exchange's business and strategy. His main focus will be to continue developing technology services that deliver practical benefits to intermediaries both in terms of writing new business and servicing existing clients cost effectively.
As a result of this reorganisation Tony Klim, previously executive director distribution, and Andrew Fritchie, previously legal and commercial director and company secretary, have resigned from the board and are leaving the company by mutual consent.
Mike O'Leary, group chief executive, says: “These changes give greater clarity of responsibility and provide a structure which makes it easier for our clients to work with us. The vast majority of our employees will now work directly in a business unit, each of which has full responsibility for developing and executing its business plans and full accountability to deliver the profit and cash required.”