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MOVES-StanChart's Kheraj to chair Rothesay Life

Reuters - UK Focus

By Christopher Spink

LONDON, Jan 15 (IFR) - Naguib Kheraj, who used to run JP Morgan Cazenove, has been appointed chairman of bulk annuity provider Rothesay Life.

Kheraj quit as chief executive of JP Morgan Cazenove in 2010 shortly after the US bank took full control of the UK stockbroker.

After a brief stint at Lazard (Frankfurt: A0DQP8 - news) he focused on charitable work for the Aga Khan Development Network and in June 2015 was appointed to the board of Standard Chartered (BSE: 580001.BO - news) , where he is now deputy chairman.

He will retain that role after the Rothesay appointment, where he succeeds Ray King. King will continue as a non-executive director of Rothesay Life.

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Kheraj, who has been on the board of Rothesay Life since 2014, was also finance director of Barclays (LSE: BARC.L - news) prior to JP Morgan Cazenove.

Rothesay Life is backed by private equity investor Blackstone (NYSE: BX - news) , US insurer MassMutual and Singapore sovereign wealth fund GIC.

It has also made Stan Beckers, ex-CEO of NN Investment Partners (IOB: 0QOQ.IL - news) , and Terry Miller directors, replacing Glenn Earle and Dermot McDonogh. Miller is a non-executive director of Goldman Sachs International Bank, where he was previously international general counsel. (Reporting by Christopher Spink)