Legal & General names John Stewart chairman

2nd Dec 2009 12:56

Legal & General today announces the appointment of John Stewart as non-executive chairman of the insurer in succession to Sir Rob Margetts. Stewart will become chairman-designate from 1 January 2010 and will succeed Sir Rob with effect from 1 March 2010. Sir Rob will stand down from the board with effect from that date.Stewart was chief executive of Woolwich from 1996-2000, Deputy CEO of Barclays from 2000-2003 and chief executive of National Australia Bank from 2004 to 2008. 'John Stewart is an outstanding candidate. The role of chairman of a FTSE 100 financial services firm is a challenging one - Legal & General is very pleased to secure someone who knows UK financial services inside-out and has strong international experience which will be invaluable as the group grows its overseas franchise,' said Sir David Walker,vice-chairman and senior independent director.