Sarah Nicholson, head of securities finance at Aviva Investors in London, has decided to step down after more than 20 years with the company.
She is succeeded by Mick Chadwick, a veteran of the securities finance industry who previously ran repo desks at Lehman Brothers, UBS and HBOS Treasury Services.
Chadwick, a high profile figure in the industry for many years, has headed securities finance trading at Aviva since 2006.