Athora Holding Ltd., the European savings and retirement services group, has announced strategic changes to its leadership team.
Michele Bareggi will step down from his role as Deputy Chief Executive Officer (CEO) and President on September 18th, 2023, after six years of services.
Todd Solash has been recruited as Bareggi’s successor and joins on October 9th, 2023, subject to requisite approvals.
Solash has more than 25 years of experience in the retirement, annuity and life insurance industries.
Prior to this, he was at Corebridge Financial where he served as President and CEO of Life Insurance and Individual Retirement.
Solash said, “I am very excited to join Athora as it enters the next period of growth. Athora has a clear business model, focused on helping individuals accumulate savings and assets for retirement, with predictability of returns and protection against uncertainty. There is strong demand for these services across Europe and Athora has significant financial resources to support future growth.”
Mike Wells, Group CEO of Athora, commented, “I would like to thank Michele for his dedication and contribution to Athora over the last six years. He has been instrumental in establishing Athora as a scaled and credible operator in the European market, setting the stage for the next phase of our expansion. I am also delighted to welcome Todd to Athora. He has deep operational experience with a strong track record of cultivating businesses that provide attractive savings and retirement solutions to their customers.”
Bareggi has been at the company since its formation in 2018, leading the Group through a significant period of growth including its expansion into Belgium, Ireland, Italy and the Netherlands.
During his tenure, Assets under Management and Administration grew from €5 billion to over €90 billion (pro forma for the signed transaction with AXA Germany, which remains subject to regulatory approval). Bareggi has supported Athora in raising approximately €6.75 billion of equity capital since inception.
“The journey with Athora over the last six years has been extremely rewarding, taking Athora from the concept phase in 2017 to the business that it is today. This would not have been possible without the strong support of our investors, regulators and partners, as well as the tireless work of our employees,” said Bareggi.
