Friends Provident CFO quits

Jim Smart will leave Friends Provident in summer after
the board accepted his resignation as CFO.

Smart, who has been with the board since November 2006, took up the CFO role
in January last year.

Executive chairman Sir Adrian Montague,said Smart had made a ‘tremendous
impact’ during his time with Friends Provident.

‘The Board is grateful that he put his own plans on hold to work on the
strategic review and that he will stay with us until the summer. By that time,
the implementation of the review will be well advanced and we will have a new
chief executive in place. Jim leaves the company with our best wishes for his
future career.”

He agreed to remain CFO, leading Friends Provident through a detailed review
of its strategic options under the terms of a proposed merger with Resolution

His departure will follow after the company’s interim results, which are due
to be announced in August 2008.

Trevor Matthews is to join the company as Group Chief Executive.

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