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Board moves through Feb. 23


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Board moves through Feb. 23

S&P Global Market Intelligence presents an overview of board changes at European financial institutions. The changes are listed by announcement date in reverse chronological order.

Feb. 23

* Standard Life Aberdeen Plc Chairman Gerry Grimstone intends to step down by the end of 2019 after 11 years in the role. The firm said an appointments committee has been formed, which is led by Deputy Chairman Simon Troughton.

* Julie Chakraverty, Lynne Peacock and Akira Suzuki will also retire from Standard Life Aberdeen's board after its next annual general meeting, the date of which is yet to be announced. Chakraverty and Akira Suzuki have been directors since August 2017, while Peacock joined in April 2012.

* Royal Bank of Scotland Group Plc said Penny Hughes will leave her role as nonexecutive director at close of business on the day of its annual general meeting.

* The shareholders of Axa will be asked during their April 25 meeting to reappoint Denis Duverne, Thomas Buberl and André François-Poncet as directors. The board will also be asked to name Patricia Barbizet and Rachel Duan as directors, replacing Isabelle Kocher and Suet Fern Lee, whose terms expire the same day.

Feb. 22

* Niklas Savander joined the board of Swedish lender Klarna Bank AB (publ) on Feb. 22, replacing Niklas Adalberth. Savander also serves as chairman of Cint AB and Zervant Oy and as independent director of U.S.-based Verne Global, Inc.

* The supervisory board of Caixa Geral de Depósitos SA granted the request of João José Amaral Tomaz, a nonexecutive board member, to suspend his 2017 to 2020 term mandate due to health reasons. The suspension will last for a renewable 90-day period, effective Feb. 22.

* Group plc appointed Joe Hurd an independent nonexecutive director, effective Feb. 22. Previously, Hurd served as Facebook Inc.'s director of emerging business.

Feb. 21

* Unicaja Banco SA co-opted Manuel Muela Martín-Buitrago to its board of directors to replace María Luisa Lombardero Barceló.

* European Investment Bank appointed Andrej Kavcic as a full member of its board, succeeding Anton Rop, who had resigned. Kavcic currently heads the international finance department within Slovenia's ministry of finance.

* Additionally, European Investment bank named Rosa Caetano as an alternate board member, succeeding Luís Samarago. Caetano is currently deputy director general for economic policy and international relations in Portugal's ministry of finance. Both her and Kavcic's terms will expire at the end of the day of either the bank's annual meeting or the day of the approval of the financial statements of the prior year, whichever comes later.

* Archie Kane intends to step down as chairman of Bank of Ireland Group Plc and as governor of Bank of Ireland later in 2018. The effective date of Kane's departure is yet to be announced, but a succession process is underway. Deputy Chairman Patrick Kennedy was previously reported to be likely to succeed Kane.

Feb. 20

* Cameron Parry, CEO of Lionsgold Ltd., will join Railsbank Technologies Ltd. as a nonexecutive director after the completion of the gold-focused technology company's purchase of a 12.5% stake in the banking platform.

* Lone Fønss Schrøder retired as chairman of Saxo Bank A/S, effective Feb. 20, to "focus on other assignments." He served as chairman from May 2015 and as a member of the board since December 2013. Henrik Normann, formerly vice chairman, took over from Schrøder.

* Danske Bank A/S will nominate Jens Due Olsen and Ingrid Bonde to its board, to be approved at its March 15 general meeting. The bank also said Urban Bäckström and Martin Tivéus will not seek re-election to the board.

Feb. 19

* Darryl Kaplan joined European Wealth Group Ltd as a nonexecutive director, representing Astoria Investments Ltd, of which he serves as CEO.

* River & Mercantile Group PLC appointed John Misselbrook a nonexecutive director, effective Feb. 16. At present, Misselbrook also serves as chairman of JPMorgan Chinese Investment Trust plc and Northern Trust Global Services Ltd.

* Financial services and travel group Saga Plc appointed Patrick O'Sullivan chairman, effective May 1. He joins from Old Mutual Plc, for which he will continue to serve as chairman until the group has concluded its management separation, which is expected to be materially completed by the end of 2018. O'Sullivan, who also serves as chairman of Lloyd's of London Syndicate 218, will stand for election at the company's next annual general meeting and will take over from Andrew Goodsell, who is due to leave Saga's board April 30.