Novae Group plc (“Novae”) today announces the appointment of Charles Fry as Chief Financial Officer. He will formally take up the position no later than the second quarter next year, when he will also be appointed to the Board as an Executive Director, subject to FSA approval.
Charles Fry has extensive experience in the global (re)insurance industry and has also held a number of executive positions across the financial services sector.
Charles was Chief Operating Officer for global reinsurance intermediary, Guy Carpenter, in New York between April 2007 and June 2010. Prior to that, he worked with Apax Partners on their investment in Travelex Group. From 1999 to 2006 he was part of the senior management team of Benfield Group, the listed reinsurance intermediary, where he was CFO of the principal operating subsidiary, Benfield Limited. Charles started his professional career at PwC, where he qualified as a Chartered Accountant. Most recently, he has been working with specialty insurer ANV, advising on their acquisition of Lloyd’s Syndicate 1861 from Flagstone Re.
Novae announced the resignation of former Chief Financial Officer, Oliver Corbett, on 23 August 2012, and he took up his new role at LCH.Clearnet on 1 December. Pending Charles Fry’s arrival, Mark Hudson, Novae’s Director of Finance, will serve as acting Chief Financial Officer.
Matthew Fosh, Group Chief Executive, commented:
“In the past three years we have focussed on driving up returns within the business. In the next three years our focus will shift towards developing growth areas within the business, and Charles has precisely the mix of knowledge and experience needed to help us do that.”
Charles Fry commented:
“I am delighted to be joining Novae at such an exciting time for the company. I look forward to working with Matthew and the rest of the team to help capitalise on the significant growth opportunities that lie ahead for Novae.”
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