Lloyd's have appointed the executive headhunter firms Russell Reynolds and Spencer Stuart to help them in their search to replace departing Nick Prettejohn, according to reports.

Lloyd's announced the departure of Prettejohn on 17 October. He will join Prudential as chief executive of its UK insurance operations.

Lloyd's has said that director, finance and risk management Luke Savage will become acting chief executive when Prettejohn leaves until a successor has been chosen.