UK’s Sandler to join Fortis board

NETHERLANDS/BELGIUM – Ron Sandler, author of a UK government-backed review of saving, is to join banking and insurance group Fortis as a non-executive director.

Fortis’ board met on April 21 to propose that Sandler be appointed to the board – along with former top executives from Deloitte & Touche, HSBC and Standard Chartered. Shareholders will vote on the appointments on May 26.

Sandler, 52, is a former chief executive of Lloyd's of London and chief operating officer of National Westminster Bank. His 2002 review proposed affordable retail savings products, since dubbed “Sandler products”.

The other nominees are former HSBC finance director Richard Delbridge, former Deloitte managing partner Jacques Manardo and Rana Talwar, former chief executive at Standard Chartered.

Fortis said the new directors would “bring to Fortis their strong knowledge of the financial services business on a global scale, sound international operational experience, and expertise in financial, accounting and audit matters”.

Co-chairman Jaap Glasz is to step down due to health problems.

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