Patrick Tiernan appointed as Lloyd’s Chief Executive Officer

Lloyd’s has announced that Patrick Tiernan will succeed John Neal as Chief Executive Officer on 1 June 2025. Mr Tiernan joined the market as Chief of Markets in 2021. He is well known to us, having spoken at both our client meetings and also to names’ organisation conferences during his tenure.

We both wish Patrick well in this new phase of his Lloyd’s career, and also extend good wishes and thanks for his contribution to the market to outgoing CEO, John Neal, who is set to join insurance broker, Aon, as CEO of global reinsurance.

Lloyd’s press release is available here. Charles Roxburgh has sent an open letter to market participants on this appointment saying

“As I said before, my first priority as Chair was to complete the search for our new Chief Executive Officer. I am delighted to confirm the appointment of Patrick Tiernan, who will be leading Lloyd’s in the next stage of its strategic development.

Patrick’s profound understanding of the market, coupled with his commercial acumen and industry expertise will ensure Lloyd’s continues to focus on delivering consistent and disciplined performance.

Patrick will commence his tenure on 1 June. He succeeds John Neal, who will leave the Corporation on 31 May. I would like to express my gratitude to John for his leadership over the past seven years.”

The appointment is subject to approval and consent from the UK Prudential Regulation Authority and the Financial Conduct Authority.