(Alliance News) - Beazley PLC on Wednesday said it has appointed Clive Bannister as chair designate, intending for the chair of Rathbones Group PLC to be confirmed as chair at Beazley's annual general meeting in April.
Beazley is the parent company of insurance businesses operating in Europe, North America, Latin America and Asia. It said Bannister is expected to become chair upon conclusion of its AGM on April 25.
Bannister is currently the chair of the Museum of London, while he previously served as chief executive officer at Phoenix Group Holdings PLC before retiring in March 2020.
Beazley said Bannister also had a "long and distinguished career" at HSBC Holdings PLC, including roles as CEO of HSBC Private Banking and group managing director of insurance.
"Clive will bring a wealth of strategic, commercial, and significant transformational experience to the board," Beazley said in a statement.
The announcements follows David Roberts standing down as chair in October to become chair of the court of the Bank of England. Christine LaSala subsequently took up the role as interim chair.
Shares in Beazley were up 0.7% to 672.00 pence each just after the market open in London.
By Greg Rosenvinge, Alliance News reporter
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Beazley (BEZ)
Rathbone (RAT)
HSBC Holdings (HSBA)
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