Lloyd's, the world's leading specialist insurance market, announced today it had appointed Luke Savage as its new Finance Director.
Luke Savage (43) has worked in investment banking for the last 17 years, including ten years at Morgan Stanley and three years at Lloyds Bank PLC. Since 2000 he has been Global Head of Equity Control at Deutsche Bank (UK). He is responsible for the financial management of the whole of Deutsche Bank's multi-billion dollar global equity trading and sales business.
As Financial Controller at Morgan Stanley International he managed the Interest Rates, Foreign Exchange and Commodities business for Europe and the Derivatives business globally, leading various control and change initiatives.
Welcoming the appointment, Lloyd's Chief Executive, Nick Prettejohn said:
"Luke Savage is an outstanding leader with an excellent track record within a multi-billion dollar global business. I am delighted that Luke is bringing those skills to the Lloyd's market as we move forward with significant change."
At Lloyd's, Luke Savage will be responsible for Finance and Risk Management, leading a team of 146. He will be an executive member of Lloyd's Franchise Board.
Luke Savage said:
"Lloyd's has a hard-earned reputation as the world's leading specialist insurance market. I am very pleased to have the opportunity to join the senior management team, and work with colleagues in the market, to ensure Lloyd's continuing success."
Luke Savage replaces Andrew Moss, who left Lloyd's earlier this year to become Group Finance Director at Aviva.
Notes to Editors:
Luke Savage's roles to date include:
| 2000 - |
Global Head of Equity Control, Deutsche Bank |
| 1990-2000 |
Morgan Stanley International Ltd (UK) |
| 1998-2000 |
Financial Controller, Strategic Re-engineering |
| 1991-1997 |
Financial Controller, Rates, Commodities and Derivative Product Control |
| 1987-1990 |
Corporate Banking Treasury, Lloyds Bank PLC |
| 1984-1987 |
Price Waterhouse |
He graduated in Electrical and Electronic Engineering from Imperial College, University of London and holds the ACA/FCA accountancy qualification. He is married with two children and his interests include sailing and skiing.
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The appointment is subject to FSA approval.
| For further information, please contact Lloyd's: |
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Lloyd's is the world's leading insurance market with a capacity to accept insurance premiums of more than £14.9 billion in 2004. It is the world's second largest commercial insurer and sixth largest reinsurance group. In 2004, 66 syndicates are underwriting insurance at Lloyd's, covering all classes of business from more than 190 countries and territories worldwide.
