3i appoints Simon Thompson as chairman

Mr Thompson will replace Sir Adrian Montague, who is leaving the FTSE 100-listed group after half a decade as non-executive chairman in which 3i refocused its business, accelerating asset sales and returning to investing in "mid-market" firms.

Sir Adrian is stepping down to spend more time on other board roles including a new position as chairman of Aviva, the insurer.

At 3i he brought connections to the UK government, having served as Crossrail chairman and overseen the sale of British Energy, the nuclear power operator, to EDF in 2009, also as chairman.

3i's assets under management rose past £13bn last year as it put a period of overstretch in the financial crisis behind it.

Mr Thompson was an investment banker at NM Rothschild and SG Warburg before taking on a slew of roles in the resources industry.

He served as an Anglo American executive director before becoming chairman of the Tarmac Group.

Since 2011 he has been chairman of Tullow Oil, and was appointed last year as a non-executive director on the board of Rio Tinto.

Mr Thompson will help oversee an investment portfolio at 3i that ranges from the Agent Provocateur lingerie chain to a German-Danish ferry line.

Jonathan Asquith, a senior independent director at the group, will also become deputy chairman, 3i said.

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