13th Apr 2015 06:21
LONDON (Alliance News) - ICAP PLC Monday poached Hiscox Ltd Chief Financial Officer Stuart Bridges for the same role at the interdealer broker, with the specialist insurer starting a search for his successor.
Bridges has been at Hiscox for 16 years, but will leave at the end of August once the company reports its half-year results in late July.
"Stuart has made a major contribution to the strategic and financial evolution of Hiscox. His steadiness under fire, particularly demonstrated in the aftermath of the terrible events of 9/11, testing hurricanes in 2005 and the financial crisis, has been of immense value to the Group. He leaves with our sincerest thanks and we wish him every success in his new role," Hiscox Chairman Robert Childs said in a statement.
ICAP's former CFO Iain Torrens had said he was stepping down last September to join TalkTalk Telecom Group PLC, but had agreed to remain in place to ensure a smooth transition.
"Stuart brings valuable experience and an impressive track record in the global financial services industry and I am delighted that he is joining ICAP. His appointment marks the culmination of a comprehensive process to find the best candidate for this role. It is an exciting time to be joining ICAP: we are focused on investing further in expanding our product portfolio and services into areas where we see potential and redeploying our energies on our market leading assets," ICAP Chief Executive Michael Spencer said in a separate statement.
By Steve McGrath; [email protected]; @stevemcgrath1
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