Lloyd's of London appoints former Treasury vet Charles Roxburgh as chair

19th Sep 2024 14:49

(Sharecast News) - Insurance and reinsurance marketplace Lloyds of London has appointed McKinsey veteran and former Treasury official Sir Charles Roxburgh as its new chair.

Roxburgh will succeed Bruce Carnegie-Brown after his eight-year term ends in May 2025.

The appointment required the approval from the Council of Lloyds, as well as the Prudential Regulation Authority and the Financial Conduct Authority.

Roxburgh served as the Second Permanent Secretary at HM Treasury between 2016 and 2022, and prior to that was the director-general of financial services at the Treasury from 2013.

He also spent 26 years at McKinsey where he had a number of positions, including co-head of the Global Strategy Practice, head of the UK Financial Institutions Group and co-leader of the Global Corporate and Investment Banking Practice.

Commenting on the appointment, outgoing chair Carnegie-Brown said: "Lloyd's plays an important role in the global financial services sector, and I am delighted to welcome Sir Charles Roxburgh who brings great experience and expertise which will help the market go from strength to strength, delivering its unique value proposition to the market's participants, investors and customers into the future."