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The Actuary The magazine of the Institute & Faculty of Actuaries

Appointments: People moves

Gary Crofts has been appointed as managing director at Lucida Re. Mr Crofts is an actuary with more than 25 years of industry experience, having worked in pensions management, life assurance and reinsurance businesses. Before joining Lucida Re, he was chief executive of MetLife Assurance. Previously, Mr Crofts was chief actuary and operations officer at XL Re. The buyout firm has been established to reinsure some of the business written by Lucida in the UK as well as writing business on a standalone basis.

XL Re has announced that Susan Cross, global chief actuary, will join the senior leadership group with immediate effect. Ms Cross was appointed XL Capital’s global chief actuary in March 2006, to lead and oversee all major actuarial functions for the company worldwide, including the establishment of unpaid loss and loss expense reserves, pricing benchmarks and related financial provisions. In July 2008, she was appointed to XL’s senior leadership group by CEO Michael McGavick. Ms Cross is a fellow of the Casualty Actuarial Society, a member of the American Academy of Actuaries and an Associate of the Society of Actuaries. She holds a BS degree in Mathematics from the University of Maryland.

Credit-Suisse has recruited Paul Lloyd as a director in Equity Research. Mr Lloyd will be responsible for covering European and UK insurance companies. He previously worked at Goldman Sachs where he held the same position, and prior to that worked as a consultant at Tillinghast.

Gavin Palmer, a principal at Towers Perrin is to manage the operations of Towers Perrin Capital Markets, a wholly owned subsidiary of Towers Perrin. TPCM will specialise in risk-linked securities, retirement risk transfer transactions and asset risk management services throughout Europe.

Royal London Asset Management has recruited Shalin Shah, in the role of quant and fixed interest specialist. Mr Shah will be providing support to fund managers and assisting with communications to clients. He will also use his extensive actuarial experience to provide quantitative and analytical support to RLAM’s derivatives and quant team. Prior to joining RLAM, he worked at PricewaterhouseCoopers LLP for five-and-a-half years, where he was involved in advising clients on a variety of investment solutions, including liability driven investment and strategic asset allocation.

Terence Nahar has also joined RLAM as interest rate derivatives manager. He will focus on LDI strategies and derivatives usage. Mr Hahar joins RLAM from Goldman Sachs where he was part of the pension and insurance team.

Redington Partners LLP has announced the appointment of Ian Maybury as a senior actuary within the insurance and pensions team. Mr Maybury will be co-managing the firm’s quantitative analysts. He was previously head of insurance actuarial in the insurance and pensions structured solutions group at Citigroup.

Deloitte has announced the promotion of three senior members of its actuarial and insurance practice. Paul Coulthard has been appointed as a partner. He joined Deloitte in 2002 and specialises in capital management with a particular focus on with-profits. A qualified actuary, Mr Coulthard began his career as a trainee with Commercial Union and then joined Bacon & Woodrow. Amish Desai has been promoted to associate partner. Mr Desai joined Deloitte in 2002 following the merger with Bacon & Woodrow. Based in London, he is an actuary specialising in life insurance M&A assignments and regulatory roles. Philip Olivier has been promoted to director. Mr Olivier is a qualified actuary and also a CFA charterholder. He started his career in South Africa before joining Deloitte in 2004. Mr Olivier focuses on life insurance M&A and restructuring in the UK market.