Leading independent Lloyd’s broker, LONMAR GLOBAL RISKS announced that its chief executive, Simon Rice will be stepping down from the role on 31 March. Simon has been chief executive of Lonmar since 2008 and led an MBO into employee ownership in 2009. Simon will become managing director - business development and will remain on the board of Lonmar and its parent company, Centrix Insurance Holdings.
Lonmar further announces that, subject to FCA approval, David Pexton will be appointed chief executive of the company. David has been on the board of Lonmar for 10 years and for a number of years has been managing director of its non-marine division. David has over 30 years of experience in the London market.
Howard Steeples, chairman of Lonmar said: “Simon has done an excellent job in leading Lonmar through an important period of its development for which I’d like to thank him. I am very pleased that David has accepted the chief executive role - he has been running our largest trading division for some time and I look forward to continuing to work closely with him.”
Simon Rice said: “I have thoroughly enjoyed my time as chief executive of Lonmar and am pleased that David is now taking on his new role. I am certain he will be a great success and I will give him every support, especially in business development.”
David Pexton said: “I am excited about assuming the role of chief executive and look forward to the continued development of the business. I am grateful to Simon for his leadership over the past seven years and look forward to continuing our work together.”
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