Beazley picks former Phoenix CEO as new chairman

London-listed specialist insurer  Beazley has picked the previous CEO of Phoenix Group to serve as its chair designate and a non-executive director with immediate effect.

Clive Bannister (pictured) will take up the role of chair at the conclusion of the company’s annual general meeting on April 25, 2023. He will also join the nomination committee and become its chair following the AGM.

The move follows David Roberts standing down as chair in the autumn of 2022 to take up the role as chair of the court of the Bank of England. Christine LaSala took up the role as interim chair of both the board and nomination committee while the company conducted an external search for a new chair.

Bannister is currently the chair of Rathbones Group and the Museum of London. He was previously CEO of Phoenix Group, retiring in March 2020. Bannister had a long career at HSBC Group where his roles included being CEO of HSBC Private Banking and group managing director of insurance. In addition to his extensive executive career, he has previously been a non-executive director of the Association of British Insurers, Punter Southall Group, Ignis Asset Management, and HSBC Insurance Brokers.

Adrian Cox, chief executive of Beazley said: “I am delighted that Clive will be joining the Beazley board and I, along with the rest of the team, are very much looking forward to working with him.”

LaSala added: “I have been impressed throughout the search process by the positive and consistent interactions with Clive, his credentials, career track-record, and his enthusiasm to take on the role. On behalf of the entire board, I would like to congratulate him on his appointment.”

Bannister said: “I am very pleased to be joining Beazley. Beazley has an outstanding reputation for innovation and delivering shareholder value. I am looking forward to working with the board and management team to continue this performance in the years to come.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.