Chief hunted
THE headhunters are out on the trail, to bring Lloyd's of London a chief executive in succession to Ian Hay Davison. They specify a strong administrator, able to push forward to the discipline of self-regulation, and to prosecute offenders. The appoint- ment will be for a term of at least five years. Good arithmetic will recommend. The successful candidate will probably come from outside the present staff. He will have a place on the governing Council, but there is no suggestion that he would be, as Mr Davison is, a deputy chairman. The appointment will be closely watched, for quality and professionalism — the City would not be impressed by even the most numerate retired Lieutenant-General and for independence. That, to Lloyd's minds, is underwritten by the chief execu- tive's place on the Council and his right to speak his mind there. A better guarantee would be a reputation and character, and it is possible to imagine better guarantees still.
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