Former Prudential UK chief executive Nick Prettejohn is to become chairman of Scottish Widows, replacing Lord Blackwell who will focus on his role as chairman of Lloyds Banking Group.
Prettejohn, who was until recently a non-executive director of the Prudential Regulation Authority, also takes on the role of an independent non-executive director of Lloyds Banking Group, where he willserve as amember of its audit and risk committees. The appointment takes effect from 23 June 2014.
Prettejohn’s previous roles include chairman of Brit Insurance and from 2010 to 2013 a non-executive director of Legal & General. He is a former chief executive of Lloyd’s of London and a member of the Lloyd’s Council. From 2006 to 2009 he was chief executive of Prudential UK and Europe and a member of the Prudential plc board. He is a member of the BBC Trust.
Lloyds Banking Group chairman Lord Blackwell says: “We are delighted to welcome Nick to the Group. Nick has significant financial services experience, particularly in insurance where he has served as Chief Executive of Lloyd’s of London and Prudential UK and Europe as well as Chairman of Brit Insurance. He will be a valuable addition to the Group Board and is ideally suited to carrying on the role of Chairman of Scottish Widows. His appointment will allow me to step down as Chairman of Scottish Widows on 23 June 2014 to concentrate on my role as Chairman of the Group.”