CFO Jonathan Turnbull takes the helm

Marshall King

Lloyd’s broker RFIB’s chief executive Marshall King is leaving the company “to pursue another challenge”.

RFIB chief financial officer has taken up the CEO role with immediate effect. His appointment as CEO will be interim while the company works with the FSA to make it permanent.

Turnbull’s old role will be assumed by Nigel Cotton, who will join RFIB on 1 November as finance director.

“Marshall has done an excellent job over the last two years strengthening the group’s operating and management systems. However, I recognise that this time provides a natural break in our development and respect Marshall’s decision to want to move on to a new challenge,” said RFIB chairman Robin Hodgson in a statement.

He added: “With more than 20 years’ experience in the Lloyd’s market, including three years at RFIB, Jonathan Turnbull is an ideal successor to build on the foundations Marshall has laid.”

King said that now RFIB has largely completed the transition to a collection of niche brokers to a unified company “I would now like to take my career in another direction, and it is a natural point to hand over to Jonathan Turnbull, who has been a hugely supportive CFO and I am sure will be a successful CEO in leading the firm through its next stage of evolution.”

Click here to read Insurance Times’s interview with Marshall King, published last month.