Lombard International Assurance, a wealth management business of Friends Life Group based in Luxembourg, has announced some changes within senior management.
John Stone, current Chairman of Lonbard, will retire effective from mid February. When he leaves, Norbert Becker, currently a non-executive director at the company, will become Chairman.
David Steinegger, Chief Executive of Lombard, has also announced his intention to resign to pursue other business interests and will leave the company in May. He will be replaced as Chief Executive by Matt Moran who has been Chief Financial Officer of Lombard since December 2009. Matt Moran will take up the role after a short handover period.
The two outgoing staff members have been with the company for 30 years together. Stone was the founder of Lombard in 1991 and has been the only chairman to date, while Steinegger has been Chief Executive since 2001.
Becker, set to become chairman, has been a non-executive director of Lombard since July 2009. He has significant expertise in financial services and business in general through roles with Andersen, Ernst & Young and Edmond de Rothschild Group. He is the founding Chairman of Compagnie de Banque de Priveé Quilvest and Atoz, a high end tax advisory and corporate finance firm.
Sir Malcolm Williamson, Chairman of Friends Life Group, Lombard’s parent company said “John Stone and David Steinegger have done a fantastic job in building Lombard into the leading pan-European wealth management business and a key part of Friends Life Group’s international business. I thank them both for their contributions and wish them every success with their future ventures.”
On the news of the appointments, Sir Malcom added, “Norbert Becker and Matt Moran have both been with Lombard since 2009 and have been a key part of our leadership succession planning. Norbert Becker is a major global business figure whose significant background in financial and business markets will complement Matt Moran’s international experience and skills.
“Together they will continue to drive Lombard’s growth strategy through the tough markets of today and to a successful long term future. I am delighted they have accepted these roles.”
