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L&Gready to name chair

Legal and General will name its next chairman within the next ten days, City A.M. understands.<br /><br />The group is understood to have picked John Stewart, former boss of Woolwich, as its front-running candidate.<br /><br />Sources close to L&amp;G say the candidate has been picked, but must now be vetted by City watchdog the FinancialServices Authority.<br /><br />L&amp;G has been searching for a candidate to replace Rob Margetts, who plans to retire from the insurer after being at the helm for almost ten years.<br /><br />Stewart is said to be a prime candidate due to his wealth of experience in financial services. <br /><br />He was&nbsp; chief executive at National Australia Bank from 2004 to 2008, after running the Woolwich building society until its takeover by Barclays in 2000.<br /><br />L&amp;G refused to comment.