Rupert Pennant-Rea, a former deputy governor of the Bank of England, is to take over as chairman at Scottish Life owner Royal London next year.
Mr Pennant-Rea, who famously had to leave the Bank of England in 1995 after a "kiss-and-tell" newspaper story about an extra-marital liaison conducted in the bank governor's dressing-room, will succeed Tim Melville-Ross, who retires after 13 years on the board, the past six as chairman.
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