Ex-Aegon director Gale appointed Defaqto chairman

Patrick Gale, former executive chairman of distribution at Aegon has been appointed as a non-executive chairman of research company Defaqto.

Gale, who replaces Rupert Pennant-Rea at Defaqto, left Aegon earlier in January after heading up Aegon's national IFA firms Positive Solutions and Origen since June 2011 having originally joined the provider in a non-executive position in March 2010.

Pennant-Rea announced in December he would stand down from roles including the chair of Henderson Group to become a non-executive director and chairman designate of the Royal London Group.

Gale (pictured) said: ‘I very much look forward to working with Zahid [Bilgrami, Defaqto chief executive] and the team to achieve our strategic goals. The retail distribution review and the evolving regulatory landscape play to Defaqto’s core strengths and present many new opportunities for us to deepen our relationships with our clients.’

Bilgrami, said: ‘I am delighted that Patrick has joined Defaqto as non-executive chairman. He is a highly respected financial services practitioner with technology experience. As a financial research and software company, Patrick’s experience and knowledge in these areas will be incredibly valuable.’