Aviva has appointed Andrew Moss as group finance director.
Andrew (45) is currently director – finance, risk management and operations at Lloyd’s of London and has extensive international experience of the financial services industry. He has played a key role in successfully transforming the Lloyd’s business, including the move from three-year to one-year accounting and managing the aftermath of the September 11 tragedy.
Before joining Lloyd’s in September 2000, he held a number of senior international management positions at HSBC over 11 years with the company, culminating in his appointment as chief financial officer for the investment bank and treasury businesses.
“Andrew has the right combination of skills and experience we’re looking for, particularly given the increasingly international nature of our business and I’m delighted he’s decided to join our management team,” says Richard Harvey, Aviva’s group chief executive. “His past successes give me every confidence that he will make a significant contribution to the further development of Aviva as a major international insurance group.”
Moss will receive a salary of 440,000 per year. He will become a main board executive director of Aviva plc, subject to the necessary regulatory approvals, and will join the company later in the year on a date to be determined.
He is a chartered accountant, having trained as an accountant with Coopers and Lybrand, and a member of the Association of Corporate Treasurers. He holds a degree in law from Christ Church, Oxford, and is married with four children.
As a result of his resignation from Lloyd’s he will forfeit deferred incentive payments to the value of 540,000. These will be compensated for by Aviva through the allocation of an equivalent amount in Aviva shares, vesting to him on the same timescale as would have been the case at Lloyd’s.
Mike Biggs, the former group finance director, left the company on 31 December 2003. Philip Twyman took on the responsibility of the group finance director role from 1 January 2004 in addition to his responsibility for Aviva’s asset management business, Morley Fund Management, pending the appointment of the group finance director. Philip Twyman will retire from the group at his normal retirement date of March 31 2004.