Business

Lloyds chief financial officer to leave

Lloyds of Londons chief financial officer (CFO) John Parry is to leave the corporation after 17 years, it was announced today.

Parry, who joined Lloyds in 2001, is a member of both its board and its executive committee.

In a statement Lloyds said that it would confirm his leaving date in due course and said that the search for his successor would start immediately.

Read more: Lloyd's of London launches Brussels hiring spree for new EU base

Parry was appointed CFO in December 2014. His responsibilities include financial reporting for the corporation and the market, capital adequacy and setting, tax and investment management.

Lloyds chief executive Inga Beale said: “During his 17 years at Lloyds, John has made an exceptional contribution to Lloyds corporation and market. In a period of unparalleled change in the insurance industry, his knowledge, experience and great commitment to the Lloyds market have earned him the respect of all those who work with him.”

Read more: Lloyd's of London reports £2bn loss after year of natural catastrophes

Parry said: “I have thoroughly enjoyed my time with Lloyds and working for this great market. I have though decided that now is the right time to leave and look for new challenges. My passion for Lloyds is undimmed and I am keen to ensure a smooth transition.”

Beale added: “I have very much enjoyed working with John and value the support he has given me. I wish him every success in the future.”

Lloyd's swung to an aggregated market loss of £2bn last year which it blamed on a string of natural disasters. The previous year it had reported a pre-tax profit of £2.1bn.

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