Aviva Plc named Blackstone Group LP Senior Managing Director Tom Stoddard chief financial officer after its previous finance head decided to leave the company.
Stoddard, Blackstone’s head of global financial institutions advisory, will become Aviva’s CFO on May 5, the London-based insurer said in a statement today. He has been a corporate adviser to Aviva since the start of 2013, according to the statement.
Stoddard’s appointment follows last month’s resignation of Pat Regan, who stepped down as finance chief to take a similar role at Sydney-based QBE Insurance Group Ltd. Regan was among the last remaining senior executives at Aviva whose tenure preceded CEO Mark Wilson’s January 2013 appointment.
Regan, 48, will give up 1.3 million Aviva shares due to him as incentive pay when he leaves, the insurer said in a separate statement today. He will relinquish rights to an additional 254,441 shares granted through his bonus plan, the company said. He will receive salary, pension contributions and other benefits until he leaves. Regan plans to stay at Aviva until June, Aviva said last month.
–Editors: Steve Bailey, Dylan Griffiths