THE OUTGOING City of London Lord Mayor Nicholas Lyons will return to insurance giant Phoenix Group as chair when his term ends next month.

Lyons will resume his role with FTSE 100 pension firm following a sabbatical for his mayoralty, which ends in November.

He will be made chair of the board of directors on 1 December, replacing Alastair Barbour, who will step down after 10 years running the firm.

Lyons was born in Ireland and had a long and distinguished business career, including at Lehman Brothers until 2003. He retired to sit on boards of financial institutions and charities, before his tenure as Lord Mayor.

Lyons said: "I am very much looking forward to returning to Phoenix in December. I would like to thank Alastair for doing a tremendous job as chair during my sabbaticals."

On Friday, it was announced US scientist and economic Alderman Michael Mainelli will take Lyons's job next month.

(c) 2023 City A.M., source Newspaper