Waters was previously the national account manager for protection distribution at HSBC Life UK and has held the head of protection distribution role since April, after Mike Furniss announced his departure.

He has more than 30 years of experience, having previously worked as a general insurance broker. More recently, Waters held senior positions at HSBC’s mortgage intermediary and group insurance businesses. 

In his new role, Waters will lead the protection intermediary distribution team, overseeing key distribution relationships and heading a team of business development professionals across the UK. 

He will be responsible for developing existing and new strategic relationships, delivering training and education to advisers and supporting them in providing protection solutions to customers. 

Mitchell Barker, chief distribution officer at HSBC Life UK, said: “Richard has already played a major role in broadening HSBC Life UK’s distribution footprint and his experience and expertise will be vitally important as we continue to expand our reach across the UK protection market.” 

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Waters (pictured) added: “I am deeply committed to building upon the progress HSBC Life UK has already achieved. My goal is to provide our partners with an effective range of protection options, enabling them to meet their customers’ needs and ensuring positive outcomes.”