Nick Hawkins, the Managing Director and CEO of IAG, has appointed William McDonnell as the Chief Financial Officer of IAG, effective from December 11, 2023, subject to regulatory approval. IAG’s current CFO, Michelle McPherson, who announced her retirement in May, will continue with the company until the end of the calendar year.
With over 25 years of global experience spanning insurance, finance, capital markets, risk management, governance, and regulation, Mr. McDonnell brings a wealth of expertise to the role. His career includes a notable 15-year tenure at the general insurer Royal & Sun Alliance Insurance Group (RSA). During his time at RSA, he held various senior positions, including Group Chief Risk Officer, where he had oversight of the Group’s risk management across strategic, underwriting, financial, compliance, and assurance aspects. Mr. McDonnell’s association with RSA concluded with its acquisition in 2021 by Danish insurer Tryg and Canada’s Intact Financial Corporation.
During his tenure at RSA, Mr. McDonnell held senior finance and capital-related roles, including Group Director of Financial Reporting and Control, as well as Head of Economic Capital, Corporate Finance, and Capital Management. He was instrumental in the creation and leadership of RSA’s ESG Committee, played a founding role in the Bank of England’s Climate Financial Risk Forum, and participated as a member of the University of Cambridge ClimateWise Council, a global network of leading insurance industry organizations. Mr. McDonnell also chaired the CRO Forum Emerging Risk Initiative, focusing on researching climate risks and their insurability.
Before joining IAG, Mr. McDonnell served as Chief Operating Officer at the Integrity Council for the Voluntary Carbon Market (ICVCM), a global governance body. During his two-year tenure, he established the organization as a standard-setter for carbon credits and oversaw the release of the Core Carbon Principles and rulebook.
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