Articles - RSA appoints Stephen Hester as new chief executive


 RSA has announced the appointment of Stephen Hester as Group chief executive and a director of the company with immediate effect.

 Martin Scicluna, chairman of RSA, who has been acting in an executive capacity pending the appointment of a chief Executive, will revert to non-executive Chairman.

 Hester was most recently Chief Executive Officer at Royal Bank of Scotland (RBS) where he successfully led the UK’s largest ever corporate restructuring and recovery programme.

 With over 30 years’ experience in financial services and FTSE 100 businesses, Stephen has also served as chief executive of The British Land Company, coo and finance director of Abbey National and held a number of senior roles at Credit Suisse First Boston in the UK and US.

 Scicluna comments “I am extremely pleased that Stephen is joining RSA as our new chief executive. He is an exceptional business leader with extensive global financial services expertise. He has an outstanding track record of transforming the performance of businesses, bringing new energy and focus and implementing a challenging agenda to ensure significant value is delivered for customers and shareholders.

 His appointment follows a comprehensive global search process which produced a shortlist of excellent candidates. He has the unanimous support of all of the Directors and we are confident that, with the support of the Board and the Executive Team, he will work quickly to take the Group forward.”

 Hester added “I am delighted to be asked to lead RSA, an organisation with a 300-year heritage. RSA has grown into a global insurer with market leading businesses, talented and engaged staff and long-standing partners and customers.

 However, the challenges of recent months have demonstrated that we have not lived up to our stakeholders' expectations and performed to our true potential. We have an obligation to deliver shareholder value and excellent products and services that provide everyday protection for our customers.

 I look forward to getting started immediately and working closely with the Board on the business review to ensure that we are able to deliver strength and value to all of our stakeholders and re-emerge as an attractive solidly performing Group.”

Back to Index


Similar News to this Story

Internal model validation adding value removing complexity
In a recent roundtable, we brought together industry practitioners involved in validation work to share their insights - covering validation within bo
Connecting business volume and volatility
A key challenge faced by capital modellers is how to appropriately connect changes in premium and reserve volume with the volatility parameters used i
Cutting your retirement cloth to fit your pension
Our local tailor has decided to retire. Not something which is usually newsworthy. However, Tarcisio is 88 years old. And he is still not ready to giv

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.