DORSET-based financial mutual LV= has announced a new chair.

The insurance, investment and retirement specialist said Simon Moore would succeed interim chair Seamus Creedon, who will continue as a non-executive director.

The move comes follows the departure earlier this year of Alan Cook, who stood down as chair after plans to sell the County Gates business to US private equity firm Bain Capital failed to attract enough support from members.

Mr Moore has had a a 30-year career with institutions including Lloyds Banking Group, Chase Manhattan Bank, ABN AMRO, Barclays Bank and the Confederation of British Industry (CBI).

At Chase Manhattan Bank he was a member of the global insurance team in London and New York working across life, general insurance and reinsurance.

He is currently chair at PCF Group, RCI Bank UK and Cambridge & Counties Bank.

Mr Moore said: “I am honoured to be taking the chair of such a distinguished British business and at such an important time in LV=’s 179-year history. I was attracted to the strength of the LV= brand and mutual ethos, and my focus will be on building a strong and thriving business for the benefit of our members, advisers and employees.

“As chair, I am determined that LV= will put its members at the heart of everything we do, as we drive the business forward.

“LV= is a fantastic business which I am extremely proud to lead. I look forward to working with my board colleagues, and the wider LV= executive team, to forge a bright future for LV= as part of a vibrant mutual sector.”

Interim chair Seamus Creedon said: “I am delighted that Simon has agreed to join the board at LV=. As well as his extensive commercial and technical knowledge of the life insurance sector and financial services, he has a strong track record helping businesses to grow and prosper for all stakeholders, including as chair of the specialist Cambridge & Counties Bank, and is the right candidate to lead LV= into the future.

“It has been a privilege to serve as interim chair since February and I very much look forward to working with Simon to ensure a smooth handover.”