Wellington Underwriting has appointed Preben Prebensen as chief executive with effect from 20 September 2004.
Prebensen will succeed Julian Avery, whose retirement was announced earlier this year.
Avery would continue to be available to the board until his retirement in 2005, said Wellington.
Preben Prebensen joined J P Morgan & Co in 1978 and held a number of senior investment banking positions in London and New York including head of UK and Scandinavia. He was also chairman of the London management committee and co-head of European investment banking.
He led teams of bankers responsible for clients in a wide range of industries in the UK and continental Europe and advised clients on divestitures, defence, capital structure, finance and risk management.
He left the bank in 2001 after the merger with Chase Manhattan and has since acted as investment adviser to AstraZeneca and Syngenta, said Wellington.
