AXA Launches Unit Focusing on Innovation, New Business Models with Phillips as CEO

AXA has appointed Joyce Phillips as chief executive officer of a new business unit dedicated to customer innovation and new business models.

Phillips becomes a member of the management committee of AXA Group and reports directly to Thomas Buberl, CEO of AXA.

Most recently, she was CEO of Global Wealth at Australia & New Zealand Banking Group Ltd. (See below for Phillips’ complete biography).

The new business unit will consolidate AXA’s initiatives aiming at expanding the value chain of insurance services by leveraging new technologies as well as the group’s “innovation ecosystem,” the company said in a statement.

It will operate on a global level with dedicated resources, including existing ventures such as AXA Partners, AXA Next and AXA Strategic Ventures, the company added. It will also allow the development of new business propositions aligned with AXA’s 2020 strategy.

Phillips has “a proven execution track record in the financial industry and a passion for new technologies and innovation,” said Buberl.

“The insurance sector is at a turning point with new trends and opportunities which AXA has started to captureā€¦,” he said, adding that the launch of this new business unit under Phillips’ leadership “will allow us to further leverage our existing capabilities and develop new business models and services in order to accelerate the pace of change for our customers.”

Phillips’ Biography

During a 25-year career, has worked across every sector, in banking, financial services and the insurance industry, and held senior roles with global and regional responsibilities in the United States, Asia and Australia.

From 1997 to 2007, she held senior executive roles for Citigroup in New York and Tokyo, including global head of International Retail Banking. Subsequently, she was president and chief operating officer at American Life Insurance Company (ALICO), a subsidiary of American International Group. In 2009, she joined Australia and New Zealand Banking Group Ltd. (ANZ) as group managing director, Strategy, M&A, Marketing and Innovation. She was most recently CEO of ANZ Global Wealth Division and group managing director, Marketing and Innovation.

Phillips holds an MBA from the Stern School of Business at New York University and is fluent in Japanese. She was named on the U.S. Banker “25 Most Powerful Women in Banking and Finance” list in 2006, 2007 and 2008, and was recognized as one of the Top 100 Fintech leaders in Asia in 2016.

Source: AXA