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Benedict Reid has been named CEO of the London Market Group.
Mr. Reid will assume the job Nov. 30, for a six-month interim period, the London Market Group said in a statement Friday. He is currently a director in the London market insurance practice of EY, formerly Ernst & Young.
LMG, which aims to modernize the London insurance market, announced earlier in the year that the current head of LMG Secretariat, Christopher Croft, will join London and International Insurance Brokers’ Association as its chief executive.
“We are very pleased that Ben is joining the LMG to help put in place the structures that will allow the London market modernization project to develop to the next stage,” Steve Hearn, chairman of the LMG, said in a statement.
Jonathan Turnbull will step down as CEO of Lloyd's of London broker RFIB Holdings Ltd. and will be replaced by Dennis Mahoney, a longtime London market executive, the brokerage announced Friday.