Aviva hires 3i boss Montague to aid major restructure

Aviva has hired 3i chairman Sir Adrian Montague as a non-executive director to help give an insight into the major restructure taking place at the firm.

Montague, who is also chairman of 3i Group and Anglian Water, has an impressive CV including spells as chairman of Friends Provident, British Energy and Michael Page.

He was also closely involved in the implementation of the UK government's policies of investing private capital in public infrastructure; first as chief executive of the Treasury Taskforce and then as deputy chairman of Partnerships UK.

The appointment comes as Aviva disposes of a number of non-core business following shareholder discontent last year at the way in which the business was being run.

In latest developments the firm has been tipped to receive a £349 million windfall from the sale of its Malaysian joint venture. This comes after the group got £1 billion for the disposal of its US business and £300 million for the sale of its holding in Delta Lloyd.

Commenting on the appointment Montague Aviva chairman John McFarlane (pictured) told the stockmarket: 'I am delighted that Sir Adrian has agreed to join Aviva's board given his extensive non-executive and insurance experience.'