Lawrence Churchill, the current chairman of the National Employment Savings Trust (NEST), is to be the next chairman of the Financial Services Compensation Scheme (FSCS).
His appointment was confirmed by the Financial Services Authority (FSA) today and he will begin his three-year term on 1 April 2012, succeeding David Hall.
Churchill is the former chief executive of UK, Irish & International Life at Zurich Financial and has also held senior roles in Unum, NatWest life and investments and Hambro Life/Allied Dunbar Assurance.
The position has been held for six years by Hall and FSA chairman Lord Turner praised him for his "significant contribution" to the FSCS.
Churchill added: "The FSCS will continue to play a vital role in providing confidence in the financial services sector this year and onwards.
"It is vital that consumers continue to be informed and made fully aware of the levels of protection that the FSCS provides, especially during times of economic uncertainty."
'Right thing to do'
£69m spent on upgrades
European fintech market 'underserved'