Annuity provider Partnership has appointed London Stock Exchange Group (LSE) chairman Chris Gibson-Smith to its board as chairman designate.
Gibson-Smith has been LSE chairman since 2003 and is also chairman of property group British Land, where he has sat on the board for 10 years. He will replace Ian Owen who will retire having served two successive four year terms since the formation of the company in 2005.
Steve Groves, chief executive of Partnership said: ‘I am delighted to welcome Chris as the future chairman of Partnership. His extensive experience as a highly respected chairman of world class businesses will be of enormous value to the company during our next period of growth.’
Partnership, a provider of enhanced and long-term care annuities, is backed by private equity firm Cinven.
Partnership said Gibson-Smith would take over following a suitable hand over period and receipt of the necessary Financial Services Authority approval. Owen will remain on the board as a non-executive director.
Owen said: ‘I look forward to working closely with Chris as I continue to serve on the board in an active role, helping the company raise our profile with government and other key influencers, particularly in relation to the social care agenda.’