Lloyd’s Overhauls Executive Team with Tiernan as CEO

Lloyd’s of London has announced a significant restructuring of its executive team following the appointment of Patrick Tiernan as CEO. The former Chief of Markets role has been split into two new positions: Rachel Turk as Chief of Market Performance, overseeing underwriting and chairing the Capital Planning Group, and Caroline Sandeman-Allen as Chief of Market Oversight, responsible for governance and chairing the Market Oversight Group. Jonathan May, CEO of Lloyd’s Insurance Company, has joined the executive team to strengthen governance, particularly in Europe. Dawn Miller continues as Chief Commercial Officer and CEO for the Americas, with an expanded role including corporate affairs. The existing roles of Alexandra Cliff (CFO), Nathan Adams (Chief People Officer), Claire Schrader (General Counsel), David Sansom (Chief Risk Officer), and interim COO George Marcotte remain unchanged. Tiernan emphasized the team’s commitment to both immediate market priorities and a long-term vision to maintain Lloyd’s leadership in global risk markets.