Aviva (AV.L) has announced current Royal Bank of Scotland non-executive director John McFarlane will become chairman in June 2012.

McFarlane will join Aviva as a non-executive director on 1 September 2011, becoming deputy chairman in January 2012 before taking the chairmanship in June.

Industry veteran McFarlane - a former chief executive of Australia and New Zealand Banking Group - will replace current chairman Colin Sharman at the end of June 2012.

The chairman-elect has also been a group executive director at Standard Chartered, head of Citibank in the UK and Ireland, and a non-executive director of the London Stock Exchange.

He will step down from the board of Royal Bank of Scotland Group in March 2012 and relocate from Australia to the UK.

John McFarlane will step down from the board of the Royal Bank of Scotland by 31 March 2012 and will relocate from Australia to the UK for the purpose of carrying out his duties as chairman of Aviva.

Current Aviva chairman Lord Sharman said, 'John McFarlane's extensive experience as both an executive and non-executive director in international financial services will be invaluable to Aviva.

'Under his leadership ANZ became one of Australia's most respected and best performing companies.'

To receive more relevant articles like this one, why not sign up to our weekly newsletters, click here