Lloyds Banking Group (LBG) has appointed Scott Wheway as chairman of its Scottish Widows Group and will leave his position as chairman of Axa UK today.
Wheway (pictured) has also been appointed non-executive director of LBG and non-executive director of Scottish Widows Group with effect from 1 August.
His appointment as chairman is subject to regulatory approval and upon approval will be effective from 12 September 2022.
Sophie O’Connor has been holding the role of interim chairman of Scottish Widows Group since Nick Prettejohn stepped down from the position in September.
Wheway is currently chairman of Centrica and Axa UK but will step down as chairman of Axa UK today while remaining chairman of Centrica plc.
He has also chaired Aviva Insurance and served as a non-executive director of Aviva between 2007 and 2016.
He spent seven years on the board of Santander UK, where he was the senior independent director until 30 September 2020.
Wheway also worked as an executive in the retail sector for over 25 years where he held positions including chief executive officer of Best Buy Europe, managing director of Boots the chemist plc and a number of senior executive positions at Tesco.
Robin Budenberg, group chairman at Lloyds Banking Group, said: “Scott will bring a depth and breadth of knowledge and experience of large-scale banking and insurance to his roles with the group.
“His track record as a non-executive and executive in customer-centric companies complements the group’s strategy and will help us deliver the right outcomes for customers. I look forward to welcoming him to the group.
Budenberg also thanked O’Connor for her time in the role since September.