Former Northern Rock executive chairman Ron Sandler will join Towry in June as chairman, 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 Lloyd’s of London.
In 2002, the Government commissioned Sandler to report on failures in the UK long-term savings market, which led to the creation of stakeholder products.
Corbett will stay on at Towry until May, when he will leave to become chairman at Numis Securities.
Sandler says: “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.”
Additionally, Geoff Unwin has been appointed non-executive director of Towry. Unwin is chairman of business processing firm XChanging.