Lloyd’s names Charles Roxburgh as next chairperson

(Reuters) — Lloyd’s of London said Thursday that Charles Roxburgh would become its next chairperson, succeeding Bruce Carnegie-Brown after eight years in the role.

Roxburgh, who has previously served in several high-profile government and financial sector roles, will take up the position on May 1, Lloyd’s said.

“Lloyd’s plays a critical role at the heart of the global insurance industry and U.K. financial services,” Mr. Roxburgh said in a statement.

“The market is delivering valuable protection to its customers and healthy financial returns to members and investors,” he added.

Sky News first reported that Mr. Roxburgh was the frontrunner for the role.

Lloyd’s, which employs nearly 50,000 people, has come under scrutiny for conduct issues in recent years and last week said it planned to overhaul its rules on dealing with poor conduct.