Lucida appoints new chief financial officer

Specialist insurance broking business Lucida Group has appointed Jon Sutton as its new chief financial officer and executive director, a statement released yesterday (11 September 2023) said.

Sutton has more than 20 years of experience in the insurance industry and has held senior finance positions at a variety of firms.

This includes working as Aon’s finance director for global broking and as Sedgwick’s chief financial officer.

His most recent role saw him hold the position of finance director at Ardonagh Specialty.

Speaking about his appointment at Lucida, Sutton said he was “excited” to be joining.

“I am excited to be joining Lucida Group at such a pivotal point of the group’s evolution,” he added.

“[I] look forward to supporting the board to create value going forwards and continue the commitment to build from strong fundamentals to support customers and insurance partners.”

Succession

Sutton will succeed Mark Mugge, who left the firm last month (8 August 2023) to join Optio Group.

Mugge’s career has also seen him hold senior positions at Ardonagh, including chief financial officer and chief operating officer.

He also worked at Gallagher for nine years, serving as corporate controller in Chicago before taking up the role of chief financial officer of international brokerage in London.

Lucida Group chief executive Mike Joseph said: “I would like to thank Mark for his contribution and wish him well with his future endeavours.

“He is replaced by Jon, an experienced chief financial officer who brings a blend of strong financial, strategic and leadership qualities.

“This is a key appointment to the group considering our exciting growth plans over the next three to five years of continuing to build really successful specialist businesses.

“On behalf of the board and all colleagues, I look forward to welcoming him to the group and benefitting from his insight and experience.”