The author of an influential paper on the private rented sector has been appointed as the new chairman of Aviva.
Sir Adrian Montague will take over the role in April 2015, succeeding John McFarlane, who has been appointed as chairman by Barclays.
Montague joined the Aviva board in January 2013 and became a senior independent director in May that year.
The Montague review into the barriers to institutional investment into private rental housing was published in August 2012 and provoked the government into launching the £1bn Build to Rent fund that autumn.
Sir Adrian’s appointment comes at a time when institutional investment into the private sector is gathering momentum.
He is currently non-executive chairman of 3i Group, non-executive chairman of Anglian Water Group, non-executive director of Skanska AB of Stockholm and CellMark Investments AB of Gothenburg, chairman of The Point of Care Foundation (charitable trust), and was recently announced as non-executive chairman of Manchester Airport Group.
Sir Adrian Montague said: “It will be a privilege to chair Aviva. The company is recovering strongly and delivering against its investment thesis of cash flow plus growth, under the new, strong management team ably led by Mark Wilson. John McFarlane has been an extraordinary chairman, and has made an immense contribution to Aviva’s recovery.
“We are disappointed that he is leaving Aviva, but understand his excellent credentials to chair Barclays, and are very appreciative of all he has done for Aviva.”
sophia.furber@estatesgazette.com
