Barclays hires Aviva's chairman in reshuffle at top of FTSE

Barclays said Mr McFarlane has a “strong track record” as chief executive and chairman in previous roles, and will bring “extensive experience” in investment, corporate and retail banking, along with insurance, strategy risk and cultural change.

Mr McFarlane’s previous roles include chief executive of Australia and New Zealand Banking Group, and being a group executive director at Standard Chartered. He has also worked at Citicorp and Citibank.

The slot at Aviva his move creates will be filled by Sir Adrian Montague, who the insurer on Wednesday morning said would take up the job in April.

Sir Adrian joined Aviva’s board in January and currently holds board roles at 3i Group and Anglian Water Group, along with positions at Sweden’s Skanska AB and CellMark Investment. He was recently announced as non-executive chairman of Manchester Airports Group.

Sir Adrian said: “It will be a privilege to chair Aviva. The company is recovering strongly and delivering against its investment thesis of cash flow plus growth, under the new, strong management team ably led by Mark Wilson.

“John McFarlane has been an extraordinary chairman, and has made an immense contribution to Aviva’s recovery. We are disappointed that he is leaving Aviva, but understand his excellent credentials to chair Barclays, and are very appreciative of all he has done for Aviva.”

The reshuffle at the two FTSE 100 companies shows seamless succession planning among Britain’s biggest companies.

Revealing the move, Aviva said its board “was made aware some time ago of the possibility that John might need to leave earlier than he had anticipated to return to banking”.

Anglian Water said Sir Adrian will step down as chairman on or around March 30.

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