23rd Feb 2012 07:32
RSA Appoints Richard Houghton as Group Chief Financial Officer
RSA, the leading global insurer, announced today that it has appointed Richard Houghton as its Group Chief Financial Officer.
Richard joins from Aspen Insurance Holdings Ltd, a global insurer and reinsurer, where he was Group CFO. Previously he worked at Royal Bank of Scotland Group plc (RBS), as COO and Group Finance Director for RBS Insurance. Prior to that, he was Finance Director of Ulster Bank, an RBS subsidiary. He began his professional career as an accountant at Deloitte & Touche where he spent 10 years working in audit, corporate finance and recovery.
Richard takes up his position in early June 2012, replacing George Culmer, who will leave the Group after the AGM in May.
Group CEO Simon Lee welcomed the appointment:
"Richard has a proven track record as a Group CFO, combining extensive knowledge of the insurance industry, solid technical expertise and an externally focused approach. With his broad experience in banking, insurance and reinsurance, I look forward to him bringing fresh strategic perspectives to the business. I am delighted to welcome Richard and look forward to working with him in the near future.
"I would also like to thank George for his very significant contribution to the Group over a number of years and wish him well at Lloyds."
Richard Houghton said:
"I am excited to be joining RSA, a business with a truly global presence and significant market opportunities. I look forward to working with Simon, the Board and the Executive team, to continue to drive the business forward."
Richard's directorship of Aspen Insurance Holdings Limited will cease on 29 February 2012. There are no other disclosures to make in respect of his appointment under Listing Rule 9.6.13R.
Ends
Enquiries:
| Media | Analysts | ||||||
| Louise Shield | Claire Cordell | ||||||
| Group Director of External Communications | Head of Investor Relations | ||||||
| +44 (0) 20 7111 7336 | +44 (0) 207111 7212 | ||||||
| Bart Nash | Simon Sperryn-Jones | ||||||
| Head of Group External Communications | Investor Relations Specialist | ||||||
| +44 (0) 20 7111 7336 | +44 (0) 20 7111 7140 | ||||||
Notes to Editors:
1. Richard's position has been approved by the FSA.
2. Biography
| 2007 - 2012 | Aspen Insurance Holdings Ltd. | ||||||
| Group Chief Financial Officer | |||||||
| 1998 - 2007 | The Royal Bank of Scotland Group Plc | ||||||
| 2005 - 2007 | Chief Operating Officer, RBS Insurance | ||||||
| 2004 - 2005 | Group Finance Director, RBS Insurance | ||||||
| 2004 | Development Director, RBS Insurance | ||||||
| 2003 - 2004 | Group Finance Director, Ulster Bank | ||||||
| 2001 - 2003 | Finance Director, Direct Line Plc | ||||||
| 1998 - 2001 | Manager, Group Corporate Finance, RBS | ||||||
| 1997 - 1998 | National Australia Group | ||||||
| Manager | |||||||
| 1987 - 1997 | Deloitte & Touche | ||||||
| Auditor - Corporate Recovery and Corporate Finance | |||||||
Richard is a Fellow of the Institute of Chartered Accountants in England and Wales.
Richard, 46, has a degree from Durham University and is married with two children.
3. Mr Houghton's salary will be £480,000 and will be employed on a standard 12 month contract.
About RSA
With a 300 year heritage, RSA is one of the world's leading multinational quoted insurance groups. RSA has major operations in the UK, Scandinavia, Canada, Ireland, Asia and the Middle East, Latin America and Central and Eastern Europe and has the capability to write business in around 140 countries. Focusing on general insurance, RSA has around 23,000 employees and, in 2011, its net written premiums were £8.1 billion.
Copyright Business Wire 2012
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