IAG has appointed Westpac Foundation Chairman Jonathan Nicholson as an independent non-executive director, effective from September 1.

Chairman Brian Schwartz says Mr Nicholson’s experience will complement other board members.

“With significant strategic financial and analytical expertise gained working across industry, consulting and government, Jon brings a unique combination of perspectives and strongly honed judgement on complex strategic opportunities,” he said.

Mr Nicholson retired in 2013 after seven years as chief strategy officer for Westpac. He played a key role in the acquisition of RAMS and St George, and has chaired the philanthropic Westpac Foundation since 2013. He previously worked as senior VP at Boston Consulting Group for 17 years.

Mr Nicholson is also a director of indigenous policy reform group Cape York Partnership and Canberra-based cyber-security business QuintessenceLabs.