John Nelson is to succeed Lord Levene of Portsoken as the next Chairman of Lloyd’s insurance market.
On Monday 18 April, the Council of Lloyd’s confirmed the appointment, with Mr Nelson due to take up office in October of this year.
Speaking about his new position, Mr Nelson said: “It is a great honour for me to accept this role and I look forward to playing my part in steering the world’s leading insurance market through the next stage of its evolution.”
He added that recent global catastrophes such as the earthquakes in Japan and New Zealand and floods in Australia highlighted the “vital” role insurance plays in helping communities and businesses rebuild after a disaster.
Lord Levene, who is retiring after nine years as Lloyd’s Chairman, described Mr Nelson as an “experienced businessman with a successful record”. He added that he believed the appointment to be an “excellent choice”.
Chief Executive Dr Richard Ward said he was “delighted” to be welcoming John Nelson to Lloyd’s, adding: “Lloyd’s is in strong financial shape and can face the future with confidence. John’s business experience makes him the perfect candidate to take on this role and help Lloyd’s build on its position as the preeminent market for specialist insurance.”
Mr Nelson boasts a long and distinguished career in the financial services, real estate and retail sectors. He spent 15 years at Kleinwort Benson, working in both the UK and the US, before moving to Lazard in 1986 where for 13 years he ran the corporate finance division – becoming Vice-Chairman in 1990.
He retired as chairman of Credit Suisse First Boston Europe in 2002 after three years and took up a number of board and advisory positions including Deputy Chairman of Kingfisher plc. He is due to retire from this role later in 2011.
John Nelson joined Hammerson plc in 2004 and became Chairman in 2005, a position he will continue to hold.
Source : Lloyd’s Press Release
