Lloyd’s of London has announced that Sir Charles Roxburgh KCB is to become its next chair, succeeding Bruce Carnegie-Brown.

Sir Charles was second permanent secretary at His Majesty’s Treasury from July 2016 to June 2022. Prior to this, he was the director-general of financial services from February 2013 to July 2016 at the Treasury.

Sir Charles spent 26 years at McKinsey where he held a number of leadership positions, including co-head of the global strategy practice, head of the UK financial institutions group and co-leader of the global corporate and investment banking practice.

Lloyd’s chair, Bruce Carnegie-Brown, said: “It has been a huge privilege to serve the market as its chairman since 2017 and to play a part in driving forward many aspects of Lloyd’s progress including, most importantly, its financial performance. During that time, Lloyd’s has also made good progress in building a more modern, sustainable, innovative, and inclusive marketplace.

“Lloyd’s plays an important role in the global financial services sector, and I am delighted to welcome Sir Charles Roxburgh who brings great experience and expertise which will help the market go from strength to strength, delivering its unique value proposition to the market’s participants, investors and customers into the future.”