Leadership change at JLT Specialty
13 September 2015
Jardine Lloyd Thompson Group plc (“JLT”), one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services, has today announced that as part of a planned succession, John Lloyd will step down as CEO of JLT Specialty Ltd at the end of the year. John will remain with the Group, continuing to advise key clients, strengthen market relationships and support and mentor young leaders across the organisation. Paul Knowles has been named as John Lloyd’s successor as CEO of JLT Specialty Ltd, with Lucy Clarke named as his deputy. Both these appointments are effective from 1st January 2016 and subject to FCA approval. Paul will also join the JLT Group Executive Committee.
John Lloyd was one of the founding partners of what became the Lloyd Thompson Group, latterly serving as its Chairman prior to its merger with Jardine Insurance Brokers in 1997. He served as the Chairman of the combined business’s Lloyd’s brokerage operation, before establishing and becoming Chairman and CEO of Lloyd & Partners, JLT’s Specialist wholesale broker, in 2005. Since 1st September 2014, following its successful merger with Lloyd & Partners, he has been the CEO of JLT Specialty Ltd.
Paul Knowles has worked in the industry for 25 years and has been with JLT since 1996. For the last 9 years, he has been responsible for our Construction and Real Estate business and, more recently, assumed the additional responsibility of running JLT Specialty’s major Corporate business.
Lucy Clarke has also worked within the insurance industry for 25 years, originally in the US and subsequently in the London market. She has been with JLT since 2002 and is currently head of Energy within JLT Specialty Ltd. She will remain responsible for this important area of our business, as well as assuming her new responsibilities.
Commenting on these changes, Dominic Burke, JLT Group CEO, said: “John Lloyd's contribution to JLT has been truly outstanding. He has played an extremely influential role in the Group’s development to become the global, Specialty-led force that we are today. He has always been fiercely protective of our clients and our people and a true champion of our values. Indeed, JLT’s culture is one that he has helped shape and that, in many ways, reflects the principles upon which he has built his own career. I am delighted that we will continue to benefit from his experience and entrepreneurial drive.
Paul and Lucy are proven leaders, each with a track record of delivering results and an absolute commitment to maintaining JLT's client-first, collaborative culture. Respected across the industry, it is a testament to the Group that we have two such strong leaders to step into these roles. Together, they represent a formidable team with the right mix of experience and entrepreneurialism to take JLT Specialty Ltd forward and drive its continued growth.’’
John Lloyd, CEO of JLT Specialty Ltd, said: “I am very proud of the contribution I have made to the success of JLT and, before that, Lloyd Thompson during my 42 years in the industry. While this is the right time for me to step down from a day-to-day people management role, my long-term commitment to JLT remains as strong as ever. I am very excited to be continuing to help further develop and grow JLT by working with our key clients and markets, as well as with all my colleagues across the Group. I also look forward to having more time to devote to my various charitable interests.”
Paul Knowles, CEO-elect of JLT Specialty, said: "Lucy and I are delighted to have been given the opportunity to lead JLT Specialty when John steps down and that we will continue to be able to benefit from his knowledge and experience. We are committed to continuing to grow the business and are both excited by the opportunities ahead of us and encouraged by the strong support we have received from our clients, colleagues and markets around the world."
Dominic Burke, Group CEO
+44 20 7309 8191
Paul Dransfield, Head of Group Corporate Communications
+44 20 7528 4933
Dania Saidam (UK)
+44 (0) 20 7404 5959
Notes to Editors
Photographs of John Lloyd, Paul Knowles and Lucy Clarke are available on request.
About Jardine Lloyd Thompson Group plc
Jardine Lloyd Thompson is one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT’s client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT is quoted on the London Stock Exchange and owns offices in 39 territories with more than 10,600 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.
For further information about JLT, please visit our website www.jlt.com.
This announcement may contain "forward looking statements" regarding the financial position, business strategy or plans for future operations of the Group. By their nature, forward looking statements involve risk and uncertainty, relating to facts that are beyond the company's ability to control, such as future market conditions. Any such statements in this announcement speak only as at the date of this announcement. The company does not assume any obligation to, and does not intend to, revise or update these forward looking statements except as required pursuant to applicable law.