RegulationApr 24 2014

PRA board member re-emerges at Scottish Widows

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From 23 June Nick Prettejohn will be an independent non-executive director of the Lloyds Banking Group and chairman of Scottish Widows.

Mr Prettejohn shocked the industry last month when he stepped down as an external member of the Prudential Regulation Authority board with “immediate effect in order to pursue a future outside regulation”.

He joined the PRA Board in June 2013 and therefore only spent nine months with the regulator.

Mr Prettejohn was previously chairman of Brit Insurance from 2011 to 2013 and 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.

Lord Blackwell, chairman of Lloyds Banking Group, said: “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.”