UPDATED

Standard Life Aberdeen (SLA) senior independent director Kevin Parry OBE has been officially announced this morning as the new chairman of Royal London as of January 01, 2019, pending regulatory approval.

The life and pensions business announced Rupert Pennant-Rea’s successor today with the present chairman having held the role since 2013.      

Parry coming onboard at Royal London is likely to mean his exit from SLA after being appointed as director in October 2014, according to a Sky News report. The former Schroders chief financial officer is chair of Intermediate Capital Group.

Pennant-Rea, meanwhile, was deputy governor of the Bank of England from 1993 to 1995. Prior to his current role, he chaired Henderson Group for eight years.

Last month SLA welcomed its own chairman designate, in the person of Sir Douglas Flint. The HSBC Holdings veteran is taking over chairmanship duties from Sir Gerry Grimstone also on January 01.