Lloyd’s of London chief set to step down

THE chief executive of the Lloyd’s of London insurance market is to step down at the end of the year.

00:01, Thu, Jul 4, 2013

Ward will step down at the end of the year

Chairman John Nelson said Lloyd’s was in a “significantly stronger position” than when Ward joined in 2006.

Richard Ward will step down after nearly eight years in charge of the 325-year-old market.

Chairman John Nelson said Lloyd’s was in a “significantly stronger position” than when Ward joined in 2006.

The Council of Lloyd’s that runs the market has begun the search for a successor.

Former BP executive Ward was previously head of the International Petroleum Exchange.