Scottish Friendly chief financial officer (CFO) Alan Rankine will leave the organisation for another role elsewhere, ahead of its merger with OneFamily.
Scott McNeill has been promoted to replace Rankine as the mutual prepares to close the merger that will create a £10bn business.
McNeill (pictured), who also becomes an executive director, steps up from chief actuary to take on the role, subject to regulatory approval.
He will now lead the financial function of the £10bn mutual that will be created if the proposed merger between Scottish Friendly and OneFamily closes in 2027 as expected.
Rankine is scheduled to depart early next year following a handover as well as supporting the proposed OneFamily merger.
He will leave the mutual after eight years, having joined Scottish Friendly in 2018 as chief actuary before becoming CFO four years later.
He also has experience as a senior manager at Deloitte and an actuary at Standard Life.
Head of risk
Scott brings financial, actuarial and industry expertise to the role, the mutual said.
He joined Scottish Friendly as head of financial and insurance risks in 2019, before moving up to chief actuary at the start of 2023.
Scott started his career at PwC, where he spent more than 12 years and was an associate director when he left.
Scottish Friendly chief executive Stephen McGee said this appointment reflected the strength of talent and succession planning at the mutual.
“Scott combines deep knowledge of our business with extensive actuarial and financial expertise, making him exceptionally well placed to lead our finance function,“ he said.
“With a strong leadership team, robust governance and a clear focus on delivering long-term value for members, we remain well positioned for the future and excited about the opportunities ahead.”
McGee praised the role Rankine has played in helping to shape the position Scottish Friendly is in today.
McNeill welcomed the opportunity to become CFO at such an important period in Scottish Friendly’s history.
“I look forward to continuing to work closely with Alan and the rest of the executive team over the coming months as we move closer to the proposed merger,” he added.
