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Sir Malcolm Williamson appointed as Friends Provident chair

Resolution has appointed Sir Malcolm Williamson as chairman of Friends Provident Holdings, replacing Sir Mervyn Pedelty who died at the end of January.

Williamson was appointed as a non-executive director of FPH following Resolution’s acquisition of Friends Provident in November 2009 and was its acting chairman during Pedelty’s recent illness.

Williamson is currently a non-executive director of National Australia Bank, chairman of National Australia Group Europe, Clydesdale Bank plc and Signet Jewelers Limited.

He also chairs Cass Business School’s Strategy and Development Board, the Board of Trustees for the Prince’s Youth Business International and is a member of the Board of Trustees for the International Business Leaders Forum.

Previously, Williamson was chairman of CDC Group plc and Britannic Group plc.

He was formerly the president and chief executive of Visa International Inc, group chief executive of Standard Chartered plc and a non-executive director of National Grid Group plc, G4S plc and JPMorgan Cazenove Holdings.

Resolution announced at the end of January that Pedelty had passed away.

Pedelty was appointed to the board of Resolution and as chairman of Friends Provident Holdings on November 5, following completion of Resolution’s acquisition of Friends Provident.

He had been an independent non-executive director of Friends Provident since October 2006.


L&G downgraded by Standard & Poor’s

Standard & Poor’s has downgraded Legal & General, claiming that the firm’s focus on the UK makes it more vulnerable to elevated industry and economic risks in the life sector.

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