Barclays has appointed Simon Phillips as Head of Captive Insurance in its Wealth and Investment Management division.
Based in Jersey, Simon’s role will include working with the existing multi-jurisdictional team to broaden the captive insurance proposition to reflect changes in the sector as well as developing the Barclays franchise in key captive locations including Guernsey, Isle of Man, Gibraltar, Malta, Bermuda, the Caribbean, and onshore USA.
Simon has extensive experience in the captive insurance and institutional sectors spanning 23 years in London, Jersey and the Isle of Man as a relationship manager and sector leader.
Simon is an associate of the Chartered Institute of Bankers, has a Certificate in Captive Insurance Management from Glasgow Caledonian University and a degree in financial services.
“The insurance industry as a whole has faced significant challenges in recent years as a result of the global economic situation, which has given parent companies and captive managers much to consider. However, the best captive parents and managers are using this as an opportunity to consider other options that could help them more efficiently manage their captive,” said Mr Phillips.
“Regulation in the captive insurance sector is likely to be the subject of ongoing change – and the main challenge will be to interpret and plan ahead for those changes. I am looking forward to working with the team and colleagues across the wider Barclays Group to support our clients in realigning opportunities by providing access to our expertise in investment and trust management, ensuring that this is supported by a high level of consistent client service,” he said.
Paul Savery, managing director, Barclays International, Intermediaries and Direct, said “I’m pleased to welcome Simon into this newly created role, which signals our confidence in our refreshed offering which, based on our deep industry knowledge, has seen us join up our banking, investment and trust expertise for the benefit of clients.”
“With significant changes being experienced across all sectors of the financial services industry, Simon’s experience and expertise in the captive insurance sector will ensure Barclays continues to meet the specific needs of our clients.”