Resolution names new Chairman

Life insurance giant Resolution has appointed the Chairman of the Friends Life Group, Sir Malcolm Williamson, as its Chairman Designate, following its 'simplified governance' shake-up announced in August of last year.

The company said on Monday that Williamson, who will succeed Mike Biggs when he steps down as Resolution Chairman later this year, brings "considerable experience and knowledge" to the role, having previously held the Chief Executive position at banking group Standard Chartered and financial services firm Visa International.

He will take up his new role when the boards of Resolution and Friends Life Group are unified at the end of March, though the management structure changes are still subject to shareholder approval.

"I am delighted to be named as Chairman Designate of the company. I look forward to working with Mike during the transition, and thereafter as Chairman, for the next phase of the evolution of Resolution Limited," Williamson said.

Meanwhile, outgoing Chairman Biggs commented: "I am pleased that my colleagues have nominated Sir Malcolm Williamson to succeed me as Chairman of Resolution Limited later this year. 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 companyin the future."