Friends Life chairman Sir Malcolm Williamson will replace Mike Biggs as chairman of Resolution as part of a streamlining of the group’s corporate structure.
Williamson will take over when the boards of Friends Life and Resolution merge, a move expected to take place by the end of March.
He will be appointed for an initial three year term and paid £360,000. He is currently paid £300,000 as Friends Life chair.
Biggs says: “Sir Malcolm’s experience as a chairman, as well as his understanding of the group’s operations, its people and its regulatory and governance framework, will equip him well to lead the Company in the future.”
The company will create one board with Andy Briggs as group chief executive and Tim Tookey as group chief financial officer.