Shepherds Friendly has announced that Jonathan Sandell (pictured) will take over as chief executive at the beginning of 2026, subject to regulatory approval. He will succeed Ann-Marie O’Dea, who is stepping down after more than a decade in the role.
Sandell brings more than 20 years of leadership experience in financial services, with particular expertise in developing customer propositions and building intermediary partnerships. At Prudential UK and Europe, he managed a £40 billion retail product portfolio and led a redesign of the pensions and retirement offering. He is currently customer and proposition director at Lloyds Banking Group.
His appointment comes as Shepherds Friendly prepares for its bicentennial and continues a transformation process initiated under O’Dea’s leadership. Recent initiatives have included engaging a new technology platform provider and expanding distribution through intermediary networks, all part of a strategy to broaden its customer base.
Sandell said his decision to join Shepherds Friendly was shaped by the society’s culture and its member-first approach, which he described as aligned with the mutual ethos. He will focus on maintaining the momentum established in recent years while leading the next stage of growth and modernisation.
O’Dea is stepping down after almost 20 years at Shepherds Friendly, including more than 10 years as CEO. During her tenure, she oversaw a period of significant change and expansion, positioning the society for long-term growth.
Mark Myers, chair at Shepherds Friendly, credited O’Dea with guiding the mutual through a critical phase in its development. He said the board was confident that Sandell’s appointment would ensure the organisation continued to strengthen as it enters its third century.
The appointment also reflects the continued importance of mutual insurers in the UK market. Unlike shareholder-owned insurers, mutuals such as Shepherds Friendly, Royal London and LV= operate for the benefit of their members, often emphasising long-term stability and customer value over short-term profits. The sector has been seeking to modernise in recent years, investing in technology and broadening product ranges to remain competitive in a fast-changing insurance and savings landscape.
Sandell’s experience in pensions, partnerships and customer strategy will be central to how Shepherds Friendly balances its heritage as a mutual with the demands of a digital-first marketplace.
As the industry faces ongoing challenges from regulatory change, evolving distribution models and shifting consumer expectations, his leadership will be closely watched as a signal of how mutuals can continue to carve out their place in the modern insurance sector.
