British insurer Aviva said Wednesday that John McFarlane, a non-executive director of bailed-out lender Royal Bank of Scotland, will become its new chairman next year.
"Aviva plc ("Aviva") announces that John McFarlane will become a non-executive director on 1 September 2011," the
London-listed group said in an official statement.
"He will then become deputy chairman on 1 January 2012 and take up the position of chairman from Lord Sharman of Redlynch at the end of June 2012."
McFarlane, who will step down from the RBS board in March 2012, will relocate from Australia to Britain for the Aviva job.