Career moves: Lloyd's of London, ING Group and others
A round-up of some of the senior executive changes in the UK and elsewhere.
A round-up of some of the senior executive changes in the UK and elsewhere.
Insurance market Lloyds of London has hired former QBE boss John Neal as CEO. Neal will take up office in mid-October and will replace Inga Beale, who has been the chief executive since 2014 and will step down next year. Prior to this role, Neal led Australian insurer QBE from 2012 to 2017 but left the organisation due to reasons unknown.
Speaking about John Neal’s appointment, Lloyd’s of London said: “He brings significant experience as a global CEO who has a track record as a highly effective leader who can deliver business transformation.”
ING Group’s CFO Koos Timmermans has submitted his resignation and will stand down from his role and as a member of the executive board of the ING group. Timmermans joined the group in 1996 and has served as a member of the executive team since 2007 due to his appointment as the group’s first chief risk officer on the Executive Board. In 2011, he became vice-chairman of the management board banking. He also led the group’s Market leaders division. He assumed the role of CFO in 2017. The search for a new CFO has begun and Timmerman will remain in his role until a successor is sought.
Speaking about Timmermans’ decision to step down, Hans Wijers, chairman of the Supervisory Board of ING said: “We want to thank Koos for his many years of dedication to ING. His efforts to align the bank’s balance sheet with new and upcoming regulation have strongly contributed to the robust financial foundation ING has today. On behalf of all at ING, we wish him all the best in his future endeavours.”
Construction group Sir Robert McAlpine’s CFO Miles Shelley has retired from his role. He held the position for a span of 25 years. Leighton More will replace him as the new CFO of the company. More worked as a finance director for Costain’s infrastructure division, where spent three years before overtaking his new role. More also worked at Serco for seven years prior to Costain. He initially joined the business as a corporate finance manager and progressed to the position of finance director for the firm’s home affairs division. More officially joined McAlpine on 3 September 2018.
OxThera, a Stockholm-based biopharma group has appointed Hugo Petit as its new CFO. Previously, Petit served as the CFO of MedCap. He has also served as the CFO in a few small and medium sized companies. Before that, he worked as a consultant at McKinsey & Company.
Commenting on Petit’s appointment, Matthew Gantz, CEO of OxThera said: “His strong financial and business background in both small and larger companies and recent experience as CFO of a publically listed life sciences company will help accelerate OxThera’s growth as it further builds additional capabilities to support our ambitions.”
UK-based advisory firm Quantuma has recruited Adrian Howells as its new corporate finance director. Howells is an advisory and debt advisory specialist and has previous led the debt advisory practice at HMT.
Following Adrian Howells’ appointment, Mark Lucas, Quantuma’s head of corporate finance said: “Adrian is a highly respected expert with specialist knowhow in debt advisory and equity transactions and has a great track record of closing deals. Adrian’s skillset will bolster the team, as it continues to provide first-rate financial and operational solutions to clients across a range of sectors.”
UK-based aviation services group Air Partner has taken on board as its CFO Joanne Estell who will succeed Chris Mann. A qualified accountant, Estell has also worked as CFO at Shield Therapeutics and Stadium Group. She also held several finance roles at Whitbread, Smiths Group and Survitec Group. The company has also hired Richard Jackson as interim chairman, after Peter Saunders their previous chairman passed away in August.
UK-based IT service management firm ECSC Group has re-appointed its founder Ian Mann as CEO. Following the departure of the group’s CFO Steve Hammell, Lucy Sharp will resume her previous role as COO as she served Mann’s role of interim chief executive in his absence.
Commenting on the restructure for the management, David Matthewson, the non-executive chairman of ECSC Group stated that he was pleased with the progress since the board changes earlier in the year, and he believes this new structure will give the group a strong platform to continue to deliver its growth strategy.
Luxembourg-based workplace provider IWG announced that its CFO Dominik de Daniel will leave the company to pursue other opportunities. He was also the COO at IWG and will be replaced by Eric Hageman who will serve as the interim CFO. Prior to this, de Daniel worked at companies like TeleCity Group in the UK and Royal KPN in the Netherlands.
Speaking on de Daniel’s retirement, IWG’s CEO Mark Dixon said that he was “important in attracting talent and played a key role in the strong positive development of our business in North America.”
Professional services firm Aon has brought on board Peter Stubbings as CEO of Global ReSpecialty who will replace Bob Bisset. Bisset has been promoted to UK growth leader, supervising over Aon’s nine UK business divisions. Stubbings will take up office on 15 October 2018. Marine, specialty and composite lead Tom Wakefield will take up the role of COO for Global ReSpecialty who will oversee property retro, marine specialty and composite and aviation lines. Stubbings and Bisset will report to UK CEO of Aon’s Reinsurance Solutions business, Nick Frankland.
Commenting on these appointments, Nick Frankland, UK CEO of Aon’s Reinsurance Solutions business said: “We welcome Peter to Aon at this exciting step in the evolution of our Reinsurance Solutions business in the UK – and congratulate Bob, Tom and Mark on their promotions as we continue to build out a sustainable management model.”
British fashion retailer All Saints’ CEO William Kim has decided to leave the organisation to join private equity firm Lion Capital and will be responsible for its digital investments. The company’s COO Peter Wood will step in to fill Kim’s position. Wood joined the organisation in 2010 as CFO and got promoted as COO in 2016. The company also appointed former Ted Baker executive Suzanne Egleton as its global digital director.
Media group Fremantle has announced that Andrea Scrosati will become its group COO. Scrosati will report to CEO Jennifer Mullin and his role includes overseeing central group functions and operations across Southern Europe, as well as UK’s scripted label Euston Films. He will join the company’s global operating board and investment committee and chair Fremantle’s production companies Wildside, Miso Film and Abot Hameiri and will serve on the board of French subsidiaries Kwai and Fontaram Productions. He will also be responsible for the execution of Fremantle’s global scripted plans. Scrosati will succeed Sangeeta Desai who has stepped down after serving as CEO and COO for more than five years.
Prior to this role, he had also served Sky Italia as EVP of programming since 2010. Before Sky Italia, he co-founded MN, an entertainment public relations and communications firm. He will take up office in November and will be based in London overseeing Vision Distribution including Fremantle’s Wildside. Commenting on Andrea Scrosati’s appointment, Jennifer Mullin said: “His deep understanding of audiences, his global mindset, his track-record of taking bold risks, and his world-class creative and commercial acumen are all going to be invaluable as we embark on an increasingly ambitious path to growth.”
Premier Veterinary Group, a veterinary healthcare provider, has appointed Andy Paull as CFO with effect from 30 November 2018. Will Evans will vacate the role on the same date after two years in the position and will be replaced by Paull who was working as a finance director of the UK Animal Health division for nine months in AmerisourceBergen Inc. Before that, he held the role of finance director at AmerisourceBergen business and Centaur Services for five years from 2013 to 2018.
CEO Dominic Tonner said: “I am delighted our company has been successful in attracting someone with Andy’s track record and industry expertise. Having headed up the financial team at ABAH UK, a £250m turnover business in Nasdaq quoted AmerisourceBergen Inc’s animal health division, he brings a wealth of knowledge and ideas to help us in this next phase of our journey.”
Reinsurer Munich Rre UK life branch has appointed Paul Morden as its CFO. Morden has worked for Munich for over 15 years as the head of actuarial risk management, head of pricing and marketing and head of corporate development.
Paul Morden said: “I’m excited to be taking on the challenge of the new UK Life Branch CFO. Having been at the company for a number of years I know the business well. I look forward to continuing to maintain the financial stability of our results, while supporting the delivery of our wider strategy.”
Angela Spindler, the chief executive of plus-size fashion retailer N Brown has stepped down after leading the company for five years. She was influential in transforming the high street retailer business into an online-only retailer due to “very disappointing footfall”. Steve Johnson, the retailer’s chief executive of financial services will be appointed as the interim group chief executive until a new head is appointed.
Spindler said: “Over the last five years we have undertaken a significant transformation across the business to support our online future which will form a strong foundation for the coming years.”
Karen Beales has stepped down as the CEO of UK General Insurance after working with the insurer for 16 years. Previously, she had held the position of managing director and CEO in the company. John Spencer, non-executive chair of the company will replace Karen as executive chairman, until a new CEO is appointed.
Spencer said: “The board joins me in thanking Karen for her huge contribution to the development of UK General in recent years, and in wishing her well for the future. I look forward to working with the board and the executive team to deliver on UK General’s ambitious plans, and to secure its reputation as the pre-eminent MGA in the UK personal lines space.”