Cost cuts in store for Lloyd's
Article Abstract:
Lloyd's chief exec Peter Middleton presents his budget for the ruling council on Dec 03, 1992. It will have a lower cost base and further redundancies are possible. Mr Middleton is responsible for creating order in the running of a market rather than a business. He plans to reform the market by redefining the services provided, giving efficient priority to underwriting members and changing structures. He will remove most of the existing committees.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1992
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Lloyd's faulted on working methods: The Morse report
Article Abstract:
Sir Jermey Morse, a prominent banker and member of Lloyd's council, reported on Lloyd's management structure. He recommended that the chief executive, who could be an employee and need not be an outsider as previously, should work with the market board but not sit on the senior council. Three management tiers, a senior small council responsible for the work of a Lloyd's market board, and a regulatory board, were suggested.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1992
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