Head hunters called in to find finance chief

The ABI has appointed head hunters to search for a chief financial officer (CFO) for Flood Re.

Executive search firm Russell Reynolds is leading the search for the CFO to join in the summer.

Candiates should be capable of running the planning, implementation and management of all Flood Re’s financial, IT and accounting functions, as well as supporting its regulatory authorisation, the ABI said.

Tom Woolgrove, who will become interim chief executive next month, said: “Flood Re is a world first and it is absolutely crucial that it has a top team capable of getting this new organisation up and running effectively and quickly. The industry and government reached agreement, legislation is almost finalised and the next vital step is getting the right people in place to take Flood Re from an idea to a reality>

“For the right candidate, this is an exciting and high profile role in a really important enterprise.”

The ABI said it expected to appoint Flood Re’s chief executive in June. It kicked off the search with Russell Reynolds in February.