Aviva has snapped up Christopher Wei, the the CEO of Great Eastern Holdings, to take on a new position as the CEO Global Life Insurance and Chairman Asia for the business.
In his new role, Wei will lead Aviva’s life insurance businesses across the group and provide strategic direction to this arm of the business – a decision Wei said was based on “personal factors” and the desire to spend more time in Hong Kong with family.
His last day with Great Eastern will be 30 September this year.
“Chris brings an outstanding track record and has the strategic and financial acumen to make a difference to our life insurance businesses,” said Mark Wilson, group CEO at Aviva in a press statement. “Chris’s appointment demonstrates the extent of our ambition for our life insurance operations.
“Chris joins a team of exceptional people leading our main business lines. Having the best management team in the sector is a prerequisite for Aviva’s successful turnaround and out-performance.”
Wei said it has been an honour to lead Great Eastern in his tenure from 2011 to 2014.
“I am extremely proud of what we have accomplished, and I am convinced that GE will continue to be an increasingly strong force in the financial services industry.
“My decision to leave has been strongly influenced by personal factors and geography and the desire to spend more time with family in Hong Kong. It was a difficult decision for me but I leave knowing that the business is in excellent shape and in capable hands.”
Great Eastern has commenced a search for their new Group CEO and will make an announcement once the candidate has been selected. Norman Ip, chairman, will assume an executive role during this leadership transition.
Ip said under Wei’s stewardship, the Great Eastern brand has hugely strengthened. Under his tenure, Great Eastern’s new business measure of Total Weighted New Sales crossed the S$1 billion mark for the first time in 2013.