Jardine Lloyd Thompson Group (JLT) has ended its search for a new group chief executive with the internal appointment of Dominic Burke to the position.
The broker also revealed that Mike Hammond, chief executive of its JLT Risk Solutions subsidiary, has resigned. It is understood that Hammond and Burke were both vying for the top job at the broker.
Burke steps up from his position as chief operating officer and takes over from Ken Carter, who took on a caretaker role at the head of the broker following the departure of former chief executive Steve McGill in November 2004.
Carter will step down as executive chairman of the group with immediate effect. He will remain as chairman until the broker's AGM in April next year, and will stay with JLT until the end of 2006 "to ensure a smooth transition".
JLT's joint deputy chairman Geoffrey Howe will replace Carter as chairman.
Dominic Collins, chairman of JLT Risk Solutions, will take over executive responsibility for that business.
Carter commented: "We conducted, with our advisers, a rigorous internal and external selection procedure."