Mr Van Saun, whose initial three-year term starts with immediate effect, has more than 25 years of international financial services experience gained in a number of global financial institutions. He is currently Group Finance Director and an executive director at the Royal Bank of Scotland. Prior to that he was Vice Chairman and Chief Financial Officer at Bank of New York Mellon.Lloyd’s Chairman John Nelson said: “I am delighted that Bruce Van Saun will be joining the Lloyd’s Franchise Board. He is one of the leading CFOs in the financial services industry and he will bring a wealth of international experience to Lloyd’s.”
Bruce Van Saun said: “Lloyd’s is the most respected brand in the global insurance industry. I am very pleased to be joining the board at such an important time in its history, as we look to drive forward Vision 2025 and position Lloyd’s as the global centre for specialist insurance and reinsurance.”
Mr Van Saun’s appointment has been approved by the FSA.
Bruce Van Saun biography
Bruce Van Saun is currently Group Finance Director and an executive director at the Royal Bank of Scotland. He brings more than 25 years of international financial services experience to Lloyd’s, having held senior positions in a number of global financial institutions including the Bank of New York Mellon, Deutsche Bank, Wasserstein Perella Group and Kidder Peabody & Co. He has substantial international experience as a non-executive director and is currently on the boards of Direct Line Group and WorldPay Group Plc. Mr Van Saun is a US Citizen.
Lloyd’s Franchise Board
The Franchise Board is chaired by the Chairman of Lloyd’s. It has three executive members and up to eight non-executive directors who are appointed for their specialist knowledge and expertise. The Franchise Board is responsible for the day to day running of the Lloyd’s market and its goal is to ‘create and maintain a commercial environment at Lloyd’s in which the long-term return to all capital providers is maximised’.