Former Northern Rock executive chairman Ron Sandler will join Towry as chairman in June, replacing Gerald Corbett.
Sandler was appointed executive chair at Northern Rock in 2008. He has also been chairman of Phoenix Group and Paternoster, and was formerly chief operating officer at NatWest and chief executive at Lloyds of London. In 2001, the Government commissioned Sandler to report on failures in the savings market which let to the creation of stakeholder products.
Corbett will stay on until May when he will leave to become chairman at Numis Securities.
He says: “I have much enjoyed my time at Towry and wish the company and its management well. Stepping down now enables me to focus my energies on my new appointment at Numis and the other public companies that I chair. Ron has outstanding business experience and is an ideal choice as the next chairman.”
Sandler says: “On behalf of Towry I would like to thank Gerald for his work for Towry and wish him well at Numis. Towry is a great business and I am looking forward to the challenge.”
Geoff Unwin has also been appointed non-executive director of Towry. Unwin is Chairman of XChanging plc. He was previously chairman of United Business Media plc and Halma plc and chief executive at Cap Gemini Ernst & Young.