Bruce Carnegie-Brown will become the chairman of Lloyd’s following a meeting of the Council of Lloyd’s where his appointment as successor to John Nelson was approved unanimously. His appointment also was unanimously supported by the Lloyd’s Franchise Board.
The council, on Monday, Feb. 21, confirmed that Carnegie-Brown, chairman of Moneysupermarket.com Group and vice-chairman of Banco Santander S.A., will take up the position in June of this year. This appointment is subject to formal approval and consent from the Prudential Regulation Authority and the Financial Conduct Authority.
Carnegie-Brown has over 35 years of experience across the financial services industry. He was chief executive for Marsh Europe between 2003 and 2006, non-executive chairman of Aon UK Ltd. from 2012 to 2015 and was also a senior independent non-executive director at the Catlin Group plc between 2010 and 2014. He will be stepping down from his current role as a non-executive director of JLT Group plc, a position he has held since May 2016.
He has been chairman of Moneysupermarket Group since his appointment in April 2014 and a vice-chairman of Banco Santander since February 2015. He previously worked at JP Morgan for 18 years across a number of senior roles, ran 3i Group plc’s Quoted Private Equity Division from 2007 and was a senior independent director at Close Brothers Group plc. Between 1981 and 1983 he worked as an investment banker for Bank of America Corp.
Commenting on his appointment, Carnegie-Brown said:
“I’m delighted to be joining Lloyd’s of London and to have the chance to work with a very talented group of market professionals who all share a passion for enhancing London’s position as the preeminent global center for structuring and placing complex insurance risk.”
John Nelson, who is retiring after nearly six years as chairman, said:
“Quite simply, this is an excellent appointment. Bruce has an extensive career in financial services, with major global firms particularly in insurance where he brings a deep knowledge and understanding of the broker and underwriting market. Bruce is arriving at an exciting time for Lloyd’s with opportunities and challenges ahead of us.”
Chief Executive Inga Beale said:
“I am looking forward to working with Bruce. His wide ranging experience across insurance, banking and with Moneysupermarket Group will offer Lloyd’s a unique perspective on how we conduct our business and succeed in today’s marketplace. As we take forward our plans to modernize the London market and ensure it remains the hub of specialist insurance and reinsurance, Bruce’s input will be invaluable.”
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