CEO, Scottish Friendly

Odgers partnered with Scottish Friendly to identify an exceptional CEO, with Stephen McGee transitioning from a non-executive director to Chief Executive in April 2022.

Established in 1862, Scottish Friendly is one of the UK’s largest mutual life offices, with over 853,000 members.

What attracted you to the role at Scottish Friendly?

I entered the NED process, knowing it was possible I could be considered for the CEO role at some point in the future. My mindset was that I wanted to be part of the organisation, regardless of how things played out. If the CEO role opened up, I’d put my name forward as I felt I could make a bigger impact as CEO than I could as a NED.

What mattered most to me was being in the right organisation, working with the right people. I kept asking myself, where would I be at my best? Scottish Friendly stood out because of its ambition, its purpose, and its size. It felt like a dynamic, innovative organisation with room to grow - without the constant pressure of survival or short-term sustainability.

There was a clear long-term need in the market for a business like this, one that could genuinely serve its customers. And being a mutual added to the appeal.

Mutuals aren’t driven by short-term market pressures, and that allows them to focus on doing the right thing for the long term. Add to that a capable, supportive team and Board - those were big ticks for me. And, it’s in Glasgow. Having lived just outside the city all my life and watched the financial services sector change over the years, the chance to lead and help build a successful Glasgow-based insurer was a huge draw. It felt like the right fit for my values and a real opportunity to create something lasting and successful.

How did you find the transition from NED to CEO?

I was probably fortunate that the period was short, but for a time I held three roles: first, as a NED not knowing if I’d be part of the CEO process; then as a NED actively involved in that process; and finally as a NED who had been named CEO designate. The first phase was the easiest - I was simply operating as a NED, even though I had a personal motivation to be involved in the CEO process. That never conflicted with my ability to perform the role objectively.

It was a valuable learning experience in how important it is to be clear about the role you’re in at any given time. We had to be deliberate about governance and role boundaries to make sure we didn’t overstep. That clarity was key to maintaining trust and structure during the transition.

What are your short and long-term ambitions for Scottish Friendly?

I’ve got a clear sense of who Scottish Friendly is here to serve, and a lot of that comes down to the complexity of our industry. The products and services are intricate, and the tax regime around them adds another layer of difficulty. That complexity can act as a barrier, discouraging people from engaging with financial products.

Because of this, many larger insurers tend to avoid certain customer segments. They see it as too difficult or expensive to engage directly, preferring to go through intermediaries or workplace schemes. As a result, a significant part of the market remains underserved - and that’s where Scottish Friendly already operates, and where I saw a big opportunity.

To serve that space well, we need products that are simple, good value, and easy to understand. 

We’re also passionate about being there when customers need us. Our locally based contact centre is a big part of that. When the phone rings, it’s answered just downstairs. That means we can respond quickly, personally, and with real understanding - supporting people through their journey in a way that’s both human and helpful.

We need to find cost-effective ways to help these customers feel supported and informed, while still delivering value to our members - because ultimately, those customers are our members. It’s a cycle, and we need to make sure it’s working well and sustainably.

We are also a great place to work, we have the right mindset, as well as the culture. If we can build both customer and colleague advocacy, we’ll be better placed to support long-term success for everyone.

How was your journey with Odgers? 

Speaking as both a candidate and a client, I have experienced both sides. My very first interaction with Odgers, years ago, stood out.

As a candidate, I felt they were genuinely different, especially compared to some other firms. It felt like they were working with me, not just for the hiring organisation. Whether I was successful or not, I always felt supported, and that they cared about finding the right fit for me as much as for the business. I really appreciated that two-way approach.

As a client, especially when hiring NEDs, reputation matters. It’s important that candidates feel well-managed throughout the process, even if they’re not selected as that experience shapes how they view the organisation. 

Having been both a CEO and a NED, I know that kind of care and professionalism is important to Odgers. It’s something I’ve valued from both perspectives.

Success in Leadership

Read our interview with Stephen where he profiles the impact of creating the right team in the right environment, as well as empowering to succeed. 

Read our Interview with Stephen McGee

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