FTAdviser.com

Advertising

NFU Mutual has announced the retirement of its chief executive Ian Geden at the end of 2008 after nearly 40 years of service.

NFU Mutual's board of directors has appointed Lindsay Sinclair as the mutual's new chief executive. His appointment will be effective from 1 August and he will work alongside Mr Geden until his retirement at the end of the year.

Sir Don Curry, NFU Mutual chairman, said: "It has been a difficult task to find a replacement for Mr Genden. His vision for the business along with his skill and professionalism has seen him make an incredible impact on not only NFU Mutual, but also the mutual sector which he has served passionately.

"His influence has been huge and the board are greatly indebted to him for all he has done for the organisation."

Mr Sinclair has managed retail banking operations over the last 25 years for ING, Standard Chartered and Barclays. He has worked in the UK, USA, Hong Kong, Holland, the West Indies, Middle East and South Asia.

He said: "I really admire NFU Mutual's business model, it is very customer focused, particularly their tied agency model that is so key to the success of the business.

"I have the greatest respect for NFU Mutual's values and approach to its business. They are very much in line with my own. I am looking forward to contributing to this winning team."