The appointment is subject to regulatory approval and Layden is expected to take on the equity release role at Aviva from 21 July.
McGill was promoted to the role of managing director at Aviva Health in April, having worked in the lender’s equity release division for around four years, and has been with the firm since 1997.
Layden will report to Dave Elliot, managing director of Aviva Retirement Solutions.
She has worked at the company since 2003; most recently, she has been commercial and distribution director for Aviva’s Direct Wealth proposition for around two years.
Layden had led this business on an interim basis prior to this between 2022 and 2024, covering an executive’s parental leave.
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She also currently serves as a non-executive director of not-for-profit organisation TISA UK, and has had previous experience at JPMorgan Chase & Co.
Elliot said: “Sarah joins my senior leadership team from the Consumer Wealth business, most recently as the commercial and distribution director for Direct Wealth, and has experienced a rich and varied career across Aviva over the last 23 years. I’m really looking forward to welcoming Sarah to the team.”
Layden added: “I am delighted to have the opportunity to lead Aviva’s equity release business; it has a critical role to play in helping customers holistically plan for their retirement. I’m also looking forward to working with our fantastic team on evolving our propositions to continue to create the best possible outcomes for customers.”
Aviva reported a 41% annual rise in equity release sales over the first quarter of this year. This was partially attributed to the launch of a new proposition.
