32 LV= Annual Report 2012
Board members
Dennis Holt (64) Chairman Mark Austen (63) Senior Independent
Dennis’s experience in banking and insurance spans Non-Executive Director
36 years as an executive and a further seven as a non- Mark qualified as a chartered management
executive director, involving a wide-range of economic accountant in 1972 and spent the majority of his
and competitive environments. He spent 31 years at Lloyds TSB career at PricewaterhouseCoopers managing their global financial
including as retail banking director on the main board. This was services consulting business. His broad range of skills across
followed by five years at AXA as UK chief executive and a member several disciplines includes advising organisations on their
of the global executive committee. In his six years as LV=’s strategies, acquisitions, operations, HR policies and technology.
chairman he has led the board as it repositioned the business As well as being nominated as LV=’s next chairman, Mark is
and delivered on its growth and profit ambitions. Dennis is also also a non-executive director of Standard Bank plc and
chairman of Beazley plc. Mott McDonald Group Ltd.
Member of the Risk Committee and the Remuneration and Chairman of the Risk Committee and a member of the Audit,
Nomination Committees. Investment and Remuneration and Nomination Committees.
Mike Rogers (48) Chief Executive John Edwards (57) Non-Executive Director
After graduating from Cambridge University in 1986 John’s career in the insurance and investment sector
Mike spent 20 years working for Barclays Bank spans over 35 years. His past roles include chief
where he carried out a variety of roles in the UK and executive of Clerical Medical Investment Group, chief
overseas. Among his senior appointments at Barclays, Mike was executive of the HBOS Insurance and Investment Division and
managing director of Small Business, Premier Banking and UK chief executive of International Financial Services at Lloyds
Retail Banking achieving a post-graduate Diploma in Leadership Banking Group. He has also served as a non-executive director
from Exeter University in 1995. In May 2006 he joined LV= of St James’s Place and Esure. As well as his position on the LV=
as chief executive leading the business into profitability and board he is also a non-executive director of Nottingham Building
transforming it into the vibrant and successful mutual it is today. Society where he also chairs their Risk Committee.
Member of the Investment Committee and Chairman of the Investment Committee and member of the
Nominations Committee. Risk Committee.
Philip Moore (53) Finance Director Caroline Burton (63) Non-Executive Director
Having held executive positions at several leading Caroline has a strong life insurance background and is
financial institutions Philip’s career in finance has a highly experienced figure in the asset management
spanned almost 30 years. He has acquired extensive industry having spent 26 years with Guardian Royal
knowledge in areas such as risk management, actuarial functions Exchange plc, where she was in charge of investments from 1990
and asset management and was chief executive at Friends until 1999. She acts as a pensions and business adviser for a
Provident until 2007 when he joined the Pensions Corporation. number of pension funds and charities and her expertise puts
This was followed by his appointment as finance director at LV= her in good stead to monitor the management of LV=’s assets.
in 2010. As well as being part of the board and executive team She is also a non-executive director of Rathbone Brothers plc, TR
at LV=, Philip is also a non-executive of Towergate Partnership Ltd. Property Investment Trust plc and Blackrock Small Companies
Investment Trust plc.
Member of the Investment Committee.
Member of the Audit Committee and the Investment Committee.
Richard Rowney (42) Managing Director
of Life and Pensions Cath Keers (47) Non-Executive Director
Richard has a first class honours degree and spent Cath has over 20 years marketing and sales
14 years at Barclays Bank holding a number of senior experience having worked at BskyB, Next and Avon.
positions across corporate and retail banking including overseeing In 2008 she won a lifetime achievement award for
integration of the Woolwich and Barclays’ retail banks. He joined her outstanding impact during her career at 02, where she was
LV= in 2007 as chief operating officer where he transformed the customer director in charge of refocusing the organisation’s
operational support areas to ensure they could support the fast customer strategy. She brings a wealth of retail industry expertise
growing trading businesses going forward. Richard was appointed to the LV= board and holds other non-executive positions at
managing director of life and pensions in 2010 and is also vice- Telefonica 02 Europe, Royal Mail and the Home Retail Group (for
chairman of Bournemouth and Poole College, the eighth largest Homebase and Argos).
education college in the UK.
Chairman of the Remuneration and Nomination Committees and
Member of the Investment Committee. a member of the With-Profits Committee.
John O’Roarke (55) Managing Director James Dean (55) Non-Executive Director
of General Insurance James is a chartered accountant and is recognised
John qualified as a chartered accountant and has as an expert in insurance accounting having spent
spent 25 years in the insurance industry. He worked much of his 30 years’ experience in audit and advisory
for Churchill Insurance for 13 years where he was finance director roles. As a senior partner at Ernst & Young he dealt with
and then managing director, leading the company to become clients such as AXA, Prudential, Legal & General, RSA and Aviva,
one of the UK’s best known insurers. John was appointed chief serving on boards outside the firm including as chairman of the
operating officer of RBS Insurance in 2003 but left RBS in 2005 ICAEW Insurance Committee. He is also a former global IFRS
to set up ABC Insurance, acquired by LV= in 2006. He became leader for the insurance sector.
managing director of LV= general insurance the same year,
leading the team that has quadrupled the size of the general Chairman of the Audit Committee and member of the
insurance business and produced strong profit contributions. Risk Committee.