"Moving to Deputy CEO will enable him to focus on driving the next stage of growth across our business and I look forward to working with him as Key continues to expand."
Simon steps up from CFO after three years with the group, with the board planning to recruit a new CFO in the coming months.
Simon joined Key Retirement from The Markets & International Banking Division at RBS, where he was Managing Director, Head of UK Insurance Coverage and previously worked in the Financial Institutions Group at UBS Investment Bank and at PwC.
Colin Taylor, CEO, Key Retirement Group, said: “Simon has made a huge contribution to the business during the last three years as a central part of our senior leadership team.
“Moving to Deputy CEO will enable him to focus on driving the next stage of growth across our business and I look forward to working with him as Key continues to expand.”
Simon Thompson added: “I am delighted to be given the role of Deputy CEO to continue delivering our strategy of building Key into the trusted brand for the over-55s in the retirement segment of financial services. The business has ambitious and achievable plans for growth and I look forward to working with the team to help deliver them.”