David Newbigging, who currently holds the position, is expected to retire at the company’s annual meeting in May, aged 71. The company is understood to have started the process of searching for a replacement, and while an external appointment is possible, Friends is also considering appointing from its list of non-executive directors.
Included in this list is Barbara Judge, deputy chairman of Friends Provident who was appointed to the same position at the Financial Reporting Council last year.
Other non-execs who may be considered for the post include Bupa finance director Ray King, former investment banker Alison Carnworth and Adrian Montague, chairman of British Energy.
Growth in revenues of 6% has seen KPMG UK break the £2bn barrier, but its managing of partners has seen average take-home fall
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