David Kneeshaw is to step down as the International Financial Group’s chief executive at the end of April, after 21 years in the role.

A spokesperson for the island-based provider of investment, savings and protection solutions said: ‘While David will be retiring from full-time work, he will stay on as a special adviser to the IFGL board and, subject to regulatory approval, will also be the chairman of IFGL’s business in the Dubai International Financial Centre in the UAE.’

David’s successor as CEO has already been appointed from outside the company and the details will be announced in April. The new chief executive will take the reins from May 1.

IFGL employs more than 520 staff across its two offices in Douglas and Castletown and is perhaps best known locally for its RL360, Friends Provident International and Ardan International brands.

David said: ‘The Isle of Man is IFGL’s home.

‘We have always been proud to be based here and to be one of the island’s largest employers.’

David became CEO of what was then Scottish Life International in 2004 before leading IFGL through a management-led buyout from Royal London in 2013, and the acquisitions of Scottish Provident International, Clerical Medical International, Ardan International, Friends Provident International and Sovereign Pension Services.

In 2023 David guided IFGL through the process of Cinven becoming IFGL’s majority shareholder.

David continued: ‘It was always my intention to step down once the dust had settled after the Cinven investment.

‘I’m now 68 and it’s the right time for a new CEO to take the business forward.

‘I am convinced my successor is an exceptional leader.

‘He has experience in The City and a good understanding of the adviser and international markets.’

Looking back on his 21 years at IFGL, David added: ‘The past 21 years have been the most extraordinary and momentous period of my working life.

‘We have built a business that is 20 times the size it was in 2004. We are now a business of seven different principal brands.

‘Despite the growth we’ve stuck to the very important principles that have always been the core building blocks of our success.

‘I’ve always believed that if you provide great products, great service and forge strong relationships with advisers, regulators and other stakeholders then good things will follow.

‘The future looks very positive for IFGL.’

David is looking forward to having more time with his family in retirement and ‘spending more time doing the things I enjoy, such as skiing, golf and cycling.

‘There are some other, smaller projects that I’ve been asked to be involved in, that I will look at over the Summer. But I am definitely retiring. And I’m delighted that I will still have some involvement with IFGL and will help in whatever way is needed.’

He’s also in training to tackle the Parish Walk in June, with the target of walking the 32.5 miles to Peel.

‘What we have built at IFGL is very special,’ added David.

‘Hundreds of people have helped along the way, but I want to say a special thank you to Mike Crellin and Simon Pack, who’ve been with me every step of the way. Without them what has been achieved would not have been possible.’