Consultancy group McKinsey & Co has confirmed that its head of UK financial institutions practice, Charles Roxburgh, is not on the short list to become the new chief executive of Lloyd's.
Since the previous chief executive Nick Prettejohn announced his resignation in October, there had been speculation that Roxburgh was a candidate for the job.
One senior source had described him as a "wonderfully clear brain, [who] understands the market and will produce a vision for the future".
But this week, a McKinsey spokesman said Roxburgh "was not a candidate".
Julian James, the director of worldwide markets at Lloyd's, is thought to be a strong contender for the chief executive job.