Scottish Widows has appointed Lord Blackwell as chairman and Dr Norval Bryson as deputy chairman.
Blackwell will become a non-executive director at Lloyds Banking Group from June 1 before taking the chairmanship of Scottish Widows on September 1. Bryson is already a non-exec director at Scottish Widows.
LBG has also recruited Carolyn Fairbairn as a non-executive director.
Fairbairn served as a non-executive director of the FSA between 2007 and 2011 and was chair of the regulator’s risk committee from 2009 – 2011.
Lloyds Banking Group chairman Sir Winfried Bischoff says: “Carolyn Fairbairn’s background in strategy, public policy and regulation complements that of Lord Blackwell in banking, consulting and insurance.
“Both bring experience in a number of important roles to the deliberations of our board and my colleagues and I very much look forward to working with them.”