City insurance marketplace Lloyd’s of London has named former Second Permanent Secretary of the Treasury Charles Roxburgh as its next chair.
Roxburgh will replace outgoing chair Bruce Carnegie-Brown, who will conclude his eight-year term in May 2025.
“I am delighted and honoured to have been selected as the next Chair of Lloyd’s,” said Roxburgh.
“Lloyd’s plays a critical role at the heart of the global insurance industry and UK financial services. Under Bruce’s leadership, it has prospered and is in a strong competitive position, with robust financial security.”
Roxburgh spent 26 years at consultancy firm McKinsey, with roles including Co-Head of the Global Strategy Practice, Head of the UK Financial Institutions Group and co-leader of the Global Corporate and Investment Banking Practice.
Roxburgh will take over the role amid a shake-up of Lloyd’s of London’s “unclear” conduct rules.
The insurance marketplace has found itself at the centre of numerous controversies in the past.
In March 2022, Lloyd’s issued its largest ever fine of £1 million to Atrium after the managing agent admitted to three charges of onn-financial misconduct, including bullying and sexual harassment.