Higgs to be new A& L Chairman

Sir Derek Higgs was named yesterday as the new chairman of Alliance & Leicester, charged with growing the business to become Britain’s leading direct bank.

Big City-hitter Higgs is leaving his non-executive directorships at Egg and Allied Irish Banks to take up the role from 28 October. The unveiling ended four months of uncertainty since current incumbent John Windelere said he intended to step down having spent 10 years with the company. Higgs, 61 has held a string of high-powered positions on boards since leaving Prudential where he was director of the plc and chairman of its fund management business between 1996 and 2000.

He is currently chairman of Partnerships UK and Bramdean Asset management and deputy chairman of British Land.

In City circles he is seen as an establishment figure, having led the government-inspired independent review in 2002 into the role and effectiveness of non-executive directors. Richard Pym, Chief Executive of Alliance & Leicester, said: “Sir Derek brings a huge range of skills and relevant experience.”