Lord Levene, the former Lord Mayor of London, has been interviewed for the position of chairman by Lloyd's selection committee, Insurance Times can reveal.
Lord Levene, who is the vice-chairman of Deutsche Bank and chairman of International Financial Services London (IFSL), is on a shortlist of four potential candidates, identified by headhunters Russell Reynolds.
The remaining candidates will be interviewed by a panel, which includes the present chairman Sax Riley, Lloyd's chief executive officer Nick Prettejohn and the chairman of the Nominations, Appointments and Compensation Committee Alastair Ross Goobey.
Last year, a search began for a replacement for Riley. The hunt was put on hold in April, following the creation of a strategy group to modernise the market. At the time, Lloyd's said Riley would stay on until the end of 2002 to implement its recommendations.
CGNU's former chairman Bob Scott and ex-Gartmore chief Paul Myners were originally on the list, but both have withdrawn their names.
One person close to the process said: "Myners was interested in the position and is supportive of Lloyd's as he chairs the Central Fund Investment Committee.
"But he has always made it clear that the very long selection process Lloyd's has is not appealing."
Myners has instead joined the boards of the Bank of New York and Marks & Spencer and is said to be working on a significant private equity capital raising in the financial services.
Lloyd's is looking for a high-profile figure with international experience, preferably outside the insurance industry. Lord Levene is associated primarily with banking , but has held governmen roles and was Lord Mayor of London in 1998.
Curriculum vitae
Name: Lord Levene of Portsoken KBE
Born: 8 December 1941, Pinner, Middlesex
Married: Wendy Anne Levene (nee Fraiman)
Children: Two sons and one daughter
Education: City of London School 1951-1960, University of Manchester 1960-63, BA (Econ)
Business career: Personal adviser to the Secretary of State for Defence 1984; deputy chairman and managing director Wasserstein Perella & Co. 1991-1995; special adviser to the Secretary of State for the Environment 1991-1992; senior adviser to Morgan Stanley 1996-1998; chairman of Bankers Trust International 1998-1999; chairman of European Investment Banking at Deutsche Bank 1999; and vice chairman of Deutsche Bank 2001.
