RSA bags Lloyds Chairman

Global insurer RSA said it had appointed financial services stalwart Martin Scicluna as its new Chairman.

He will join the board on January 1st 2013 and succeeds John Napier who is stepping down at the end of the year after a decade in the post.

Scicluna spent over 30 years at Deloitte where he was Chairman from 1995 to 2007 and is currently Chairman of Great Portland Estates and Chairman of the Audit committee and a Non-Executive Director of Lloyd's Banking Group.

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Edward Lea, Senior Independent Director at RSA, said Scicluna's considerable knowledge and understanding of the financial services sector and his board experience would be real assets to the group.

"Martin will bring a fresh approach that will support our aims to deliver an excellent service to our customers and value for our shareholders," he said.

Lloyds announced Scicluna would step down from the board and leave the group in March 2013.

Scicluna said the last four years had been "incredibly challenging" for Lloyds but "the successful transformation of the group is now well under way".