RSA Insurance Group P.L.C. has named Stephen Hester as group chief executive and a director of the company, effective immediately, the London-based insurer said Tuesday.
He replaces Simon Lee, who resigned Dec. 13.
Mr. Hester was most recently CEO at Royal Bank of Scotland Group P.L.C. and has also served as CEO of The British Land Co. P.L.C. and as CEO and finance director of Abbey National P.L.C., RSA said in the statement. He also has held a number of senior roles at Credit Suisse First Boston in the U.K. and U.S.
He will be based in London.
“I am extremely pleased that Stephen is joining RSA as our new chief executive,” said Martin Scicluna, chairman of RSA, in the statement. “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.”
Mr. Scicluna, who has been acting in an executive capacity pending the appointment of a chief executive, will revert to nonexecutive chairman, the company said.