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MOVES-L&G's Zinkula to join board of UK corporate governance regulator

Reuters - UK Focus

LONDON, March 13 (Reuters) - Mark Zinkula, chief executive of insurer Legal & General (LSE: LGEN.L - news) 's fund arm, Legal & General Investment Management, is to join the board of Britain's corporate governance watchdog.

Zinkula will join the Financial Reporting Council (FRC) on April 1, replacing Allianz (Swiss: ALV-EUR.SW - news) 's Elizabeth Corley, who steps down after six years at the independent regulator.

"As CEO of a global asset management business, he will deepen the FRC's insight into the needs of investors wherever they are based," FRC Chairman Win Bischoff said in a statement.

The move comes as the government considers changes to the rules around corporate governance, including around executive pay, and as British firms including BT and Rio Tinto (Hanover: CRA1.HA - news) face issues around accounting and auditing, both areas in which the FRC is tasked with enforcing good behaviour. (Reporting by Simon Jessop, editing by Louise Heavens)