Lloyd's CEO Neal plots next move for LM TOM as he takes helm

The London Market Group (LMG) has appointed Lloyd’s CEO John Neal to chairman of London Market Target Operating Model (LM TOM) steering board, replacing Inga Beale, who had chaired the group since it was set up in 2016.

Neal said: “There can be no doubt that the London market has achieved some great results through the work of the LM TOM. Its original vision was ambitious, but the work has been delivered in manageable segments so that the market now has many of the component parts to help it to achieve its goals of being simpler to access, cheaper to deal with and easier to understand."

“The inevitable question is “what next”? Nead added. "Firstly, we want to ensure that we have delivered against the original vision and then think about what that means in terms of moving forward, whether that is building on foundations we have or looking at what the market wants next. The challenges facing London remain but I am excited by what has been achieved and confident we have a robust platform on which to build.”

Andrew Horton, chair of the LMG, said: “The work to make London an easier place to do business has made real progress since its inception. The market has taken delivery of a number of solutions, including for the e-placement of risk, the audit and compliance of coverholders and the movement of data around the market. The key is now to increase adoption by market firms and to consider what next. John’s leadership in this will be a crucial part of the process.”