Payne is to join The Exeter from KPMG where he was a director in the insurance consulting practice. Overall, he will bring 30 years of experience in insurance, asset management and in the wealth management industries.
Prior to KPMG, he held positions as the customer and innovation chief operating officer and the distribution chief financial officer at M&G. In addition, he was the portfolio actuarial and operations director at Prudential Assurance, as well as a stint at Scottish Friendly where he was actuarial director.
In his time in various C-suite financial services positions, Payne has led complex transformation projects, such as the delivery of a £400bn asset programme for a FTSE 100 composite insurer, and digital transformation programmes for other FTSE 100 companies.
He has also played a pivotal role in developing the actuarial aspects of a £50bn annuity business, and has led large teams across financial reporting and operations.
Mutual sector rewarding
Isobel Langton, the chief executive officer at The Exeter, said: “I am pleased to welcome Michael to The Exeter at what is an exciting time for our business. His wealth of knowledge and experience make him a valuable addition to both The Exeter’s board and our wider leadership team. What’s more, Michael’s customer focus and passion for the mutual sector align perfectly with our values, and he will play a key role in helping us to deliver our future growth strategy.”
Payne added: “Looking back on my career some of my most enjoyable and rewarding experiences have been whilst working in the mutual sector, particularly my time at Scottish Friendly.
“I’m therefore excited to be joining The Exeter at a time of market-leading transformation, and I am looking forward to working with Isobel and The Exeter teams to deliver our long-term growth aspirations for the benefit of our members and advisers.”