Towry, a UK-based wealth adviser, has appointed Ron Sandler as its new chairman, effective June 2014.

Sandler will succeed Gerald Corbett, who will serve as chairman until the end of May 2014.

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Previously, Sandler served as executive chairman of Northern Rock, chairman of Phoenix Group, and chairman of Paternoster.

Additionally, Towry has appointed Geoff Unwin as its new non-executive director.

Currently, Unwin serves as chairman of XChanging. Previously, he served as chairman of United Business Media and Halma.

Commenting his departure, Corbett said: "Stepping down now enables me to focus my energies on my new appointment at Numis plc and the other public companies that I chair. Sandler has outstanding business experience and is an ideal choice as the next chairman."

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The appointments of Sandler and Unwin are subject to FCA approval.