Strategy & Operations » Leadership & Management » Reinsurance FD steps up to divisonal CEO in shakeup

THE FINANCE DIRECTOR of one of the UK’s major reinsurance brokers is to head up the business.

Mike Reynolds, group finance director of Jardine Lloyd Thompson (JLT), has been appointed global CEO of JLT Towers Re.

The move comes as it makes a series of management changes following today’s announcement of a merger between JLT Specialty and Lloyd & Partners.

Reynolds, who has held senior roles in reinsurance in London, the US and Bermuda, will retain his group FD role until a successor is found.

Current JLT Towers Re CEO Alastair Speare-Cole has decided to leave the organisation at the end of the year, having played a key role in its acquisition of Towers Re. He will hand over to Reynolds through to the end of the year.

JLT group CEO Dominic Burke said that Reynolds has the “experience and the vision” to take on the role. “He has been a truly outstanding group finance director over the past two years and his appointment reflects both the importance of JLT Towers Re to our growth strategy and the ambition that we have for that business.

“Mike played a central role in the acquisition of Towers Watson Re late last year and knows the business well. I am delighted that he has accepted this opportunity to lead such a significant and exciting part of the business.”

Burke extended his appreciation for the “significant contribution” made by Speare-Cole over the last few years.

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