L&Gready to name chair
Legal and General will name its next chairman within the next ten days, City PM understands.
The group is understood to have picked John Stewart, former boss of Woolwich, as its front-running candidate.
Sources close to L&G say the candidate has been picked, but must now be vetted by City watchdog the FinancialServices Authority.
L&G has been searching for a candidate to replace Rob Margetts, who plans to retire from the insurer after being at the helm for almost ten years.
Stewart is said to be a prime candidate due to his wealth of experience in financial services.
He was chief executive at National Australia Bank from 2004 to 2008, after running the Woolwich building society until its takeover by Barclays in 2000.
L&G refused to comment.