Key Retirement Group has appointed Steve Groves as its chairman.

The retirement services firm says it is positioning itself for further growth following its £208 million acquisition by private markets investment manager Partners Group last year.

Groves has over 20 years’ experience within the insurance and retirement sectors, with much of that time spent leading Partnership Assurance, later Partnership Plc, where he progressed to Group CEO.

David Young, who has been a non-executive director of Key Retirement Group for over four years, will continue in the role through the next growth phase of the group.

Simon Thompson, CEO, Key Retirement Group, said: “We are delighted that Steve has agreed to join Key Retirement Group as his customer focused ethos and track record fit perfectly with our plans for the future.

“His wealth of experience in the retirement sector and in successfully growing specialist businesses will be a major asset for Key as we deliver our expansion strategy.

We are also delighted that David Young, with whom we have worked so closely over the past four years, is to continue in his Non-Executive role providing good continuity for the business.”

Groves added: “I know Key Retirement Group well having worked previously with them as a major business partner and I look forward to working with Simon and the team to build on the relationships and knowledge both they and I have from the past two decades in this sector to help serve existing and new customers. The acquisition by Partners Group means Key is poised to grow substantially and I look forward to working with the team and being part of the growth over the coming years.”