Monday, November 21, 2016

3i institution’s Montague Replaces McFarlane As Aviva Chairman



Aviva p.c, the U.okay.’s second- largest insurer through market fee, named Adrian Montague as non- govt chairman, replacing John McFarlane, who's taking over the equal job at Barclays percent.
Montague, 66, who joined the board of Aviva in 2013, will take in the submit after McFarlane steps down on the agency’s annual wellknown assembly in April, according to a declaration today. McFarlane succeeds David Walker as chairman of the British bank.
“it will be a privilege to chair Aviva,” Montague said inside the assertion. “McFarlane has been an wonderful chairman and has made an immense contribution to Aviva’s recuperation. we're disappointed that he is leaving, however apprehend his brilliant credentials to chair Barclays.”
Montague is likewise non-executive chairman of private-fairness company 3i organization percent, Manchester Airports organization % and is due to retire as chairman of Anglian Water group Ltd. in March. he is taking over from McFarlane, who changed into hired to help turnaround the insurer beset via Europe’s economic disaster and a shareholder insurrection that sparked the resignation of former CEO Andrew Moss.
Montague turned into chairman of U.okay. insurer buddies Provident institution percent among 2005 and 2009 which was bought with the aid of Clive Cowdery’s resolution Ltd. for 1.nine billion pounds in August of 2009. The organization today shape’s a part of pal’s lifestyles institution Ltd.
considering that beginning in July 2012, McFarlane has overseen a strategic evaluate of Aviva, the appointment of Mark Wilson as CEO and an 86 percentage healing in Aviva’s percentage price. The statement of his appointment reversed a decline in Barclays’ shares, which rose as plenty as 2 percentage.
Aviva fell zero.1 percent to 530.five pence at eleven:30 a.m. in London.
Montague’s appointment changed into accredited through the Prudential law Authority and economic conduct Authority, in step with the announcement.

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