(Bloomberg) -- Lloyd’s of London named Bruce Carnegie-Brownto succeed John Nelson as chairman of the insurancemarket founded in a coffee house in 1688.

Carnegie-Brown, who is also chairman of Moneysupermarket.com Group Plc and vice chairman ofBanco Santander SA, will take up the positionin June, subject to regulatory approval, Lloyd’s of London said ina statement on Monday.

“I am looking forward to working with Bruce,” Chief ExecutiveOfficer Inga Beale said in the statement. His experience acrossinsurance and banking “will offer Lloyd’s a unique perspective onhow we conduct our business and succeed in today’smarketplace.”

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Carnegie-Brown, who has more than 35 years of experience infinancial services including at Marsh Europe, Aon UK Ltd and CatlinGroup Plc, takes up the post at a time when Lloyd’s of London isdeciding where it wants to open a Europeanheadquarters after the government indicated Britain won’tremain part of the EU’s single market.

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