Sandler to step down as chairman of Ignis parent

Ron Sandler is to step down as chairman of Phoenix Group, the parent company of Ignis Asset Management.

Sandler, who was appointed chairman of Phoenix in 2009 and is also the former boss of nationalised lender Northern Rock, said he will "pass on the baton" at some point this year, in a statement released with company results this morning.  "I have indicated my intention to retire from the board during the course of 2012, once a suitable successor has been identified. Whilst the journey is by no means complete, Phoenix is now well positioned for the next stage of its development and I have decided that it is the right time to pass on the baton. "Having made this decision, I feel it appr...