Patrick Tiernan appointed to new role of Lloyd’s Chief of Markets
Lloyd’s has this morning (22 January) confirmed the appointment of Patrick Tiernan to the role of Chief of Markets.
Mr Tiernan joins from Aviva where he is currently Managing Director, UK Commercial Lines & Global Corporate and Specialty. He was previously Chief Financial Officer of Aviva Insurance Limited. His 24 years’ experience in the insurance industry includes serving as Chief Operating Officer of Starstone Insurance and as Chief Operating Officer of Zurich’s Centrally Managed Businesses. He is chairman of the International Underwriting Association, sits on the boards of the London Market Group and of Climatewise and is a member of the Innovation Working Group of the Bank of England’s Climate Financial Risk Forum.
This new role was created following the departure of Jon Hancock as Performance Management Director. The Chief of Markets is responsible for the overall wellbeing of the Lloyd’s platform, from customer and distribution, through to underwriting businesses. It is a wider role that that of Performance Management Director as is include market oversight as managing relationships with brokers and clients as well as running Lloyd’s global network.
John Neal, Chief Executive of Lloyd’s said “I’m thrilled that Patrick will be joining Lloyd’s, and in this newly created role. As a highly regarded industry executive with leadership experience across business and financial management, Patrick joins Lloyd’s at an exciting time. Our overarching priorities of performance, strategy, culture, together with a new ‘purpose’ pillar, remain paramount and drive everything we do in the Corporation and across the market. Patrick will progress these priorities to deliver the impact and results we need right across the market; from customer and distribution, through to underwriting businesses and oversight."