Savage Appointed to Finance Director Post at Lloyd’s

July 22, 2004

Lloyd’s of London announced it has appointed Luke Savage as its new finance director.

Savage has worked in investment banking for the last 17 years, including ten years at Morgan Stanley and three years at Lloyds Bank PLC. Since 2000 he has been global head of Equity Control at Deutsche Bank (UK). He is responsible for the financial management of the whole of Deutsche Bank’s multi-billion dollar global equity trading and sales business.

As financial controller at Morgan Stanley International he managed the Interest Rates, Foreign Exchange and Commodities business for Europe and the Derivatives business globally, leading various control and change initiatives.

Welcoming the appointment, Lloyd’s Chief Executive, Nick Prettejohn said, “Luke Savage is an outstanding leader with an excellent track record within a multi-billion dollar global business. I am delighted that Luke is bringing those skills to the Lloyd’s market as we move forward with significant change.”

At Lloyd’s, Savage will be responsible for Finance and Risk Management, leading a team of 146. He will be an executive member of Lloyd’s Franchise Board.

Savage said, “Lloyd’s has a hard-earned reputation as the world’s leading specialist insurance market. I am very pleased to have the opportunity to join the senior management team, and work with colleagues in the market, to ensure Lloyd’s continuing success.”

Savage replaces Andrew Moss, who left Lloyd’s earlier this year to become group finance director at Aviva. The appointment is subject to FSA approval.

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