Aviva finds a new finance director, Andrew Moss from Lloyd's, after a seven-month search.
Aviva has found a new finance director, Andrew Moss from Lloyd's, after a seven-month search.
Moss will receive £540,000 of shares and a pay package potentially worth more than a £1m a year. He will be awarded options worth £440,000 through Aviva's long-term incentive plan.
This is subject to the insurer meeting targets based on shareholder return and return on capital employed. Aviva's directors received nothing in 2002 from their incentive plan as its targets were not met.
Before appointing Moss, Aviva was forced to appoint the head of its fund management arm as interim finance director last month. The company's former finance director, Mike Biggs, took the market by surprise last July when he announced his intention to leave.
The new appointment was welcomed by analysts who were concerned that the appointment of an interim finance director had created uncertainty among investors.
Moss is a chartered accountant who trained with Coopers & Lybrand. He later worked for Citibank and HSBC, where he was appointed as chief financial officer for the investment bank and treasury businesses. In September 2000 Moss joined Lloyd's.
Lloyd's chief executive Nick Prettejohn commented: "Andrew Moss has done an outstanding job at Lloyd's... It is testimony to his skills that he is moving to such an exciting and challenging position."
