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Aviva to unveil McFarlane as new chairman

By Daily Mail Reporter
Updated: 03:10 EDT, 6 June 2011

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Aviva is preparing to unveil John McFarlane as its next chairman to replace departing Lord Sharman, as the insurance giant's boardroom upheaval continues.

Pedestrians walk past an Aviva head office

Veteran: John McFarlane headed Australia and New Zealand bank for a decade

Scottish-born McFarlane, 63, is a non-executive director at Royal Bank of Scotland but made his name at Australia and New Zealand bank, which he headed for a decade from 1997.

His appointment after an exhaustive search by City headhunters MWM Consulting and JCA Consulting has yet to be approved by the Financial Services Authority.

Holding dual British and Australian citizenship, McFarlane began his career in the motor industry in 1969 with Ford before moving to Citigroup, where he worked his way up, eventually running the bank's UK and Ireland operation.

The appointment comes at a sensitive time for the insurer, which has just named industry veteran and fellow Australian Trevor Matthews, the former chief executive of Friends Life, to run its UK division.

He replaces Mark Hodges, who surprised the stock market by jumping ship for insurance broker Towergate.

A week earlier the head of Aviva's domestic life insurance wing, Toby Strauss, moved to Lloyds Banking Group to run Scottish Widows.

McFarlane will take over from Lord Sharman, who has been chairman of Aviva since January 2006.

His role is expected to include a focus on succession planning in the boardroom, with chief executive Andrew Moss predicted to stand down in the next two years having filled the top post for four years.

Aviva declined to comment.

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