Has the broker found a replacement for Alastair Lyons?
A former head of the Financial Services Authority is in the running to chair Towergate, according to the Financial Times.
FSA ex-chief executive John Tiner has emerged as a leading candidate to chair the broker’s board as its new owners canvas the City for the right candidate to help it recover from a cash crisis.
No agreement had been reached on his appointment and other individuals are also in the frame, according to the report. Towergate was unavailable for comment this morning.
Towergate is looking for a replacement for Alastair Lyons, the incumbent chairman.
Tiner ran the FSA (since replaced by the FCA and the PRA) between 2003 and 2007.
The appointment would be the latest big-name move for Towergate, whose new owners this month appointed David Ross from Arthur J Gallagher as its new chief executive.
Yesterday Towergate also announced that Gallagher’s Janice Deakin and Adrian Brown would also move to the broker.