8 February 2023Insurance

Markel lines up new group CFO from Jefferies Financial

Global specialty insurer  Markel Corporation has picked its next chief financial officer from Jefferies Financial Group. Its CEO said the pool of finance leaders with experience supporting a group of businesses and diverse investments is “somewhat limited” within the industry.

Teri Gendron will become CFO effective March 20, 2023, succeeding Jeremy Noble who became president of Markel's insurance operations earlier this year.

Gendron was most recently chief financial officer of Jefferies Financial Group, and she has also held senior finance positions at Gannett Co. and NII Holdings. She began her career at KPMG.

In her new role, Gendron will work with leaders and teams across Markel's three engines of insurance, investments, and Markel Ventures to oversee and manage all aspects of the holding company's financial operations, including financial reporting, accounting, tax, treasury, and internal audit. She will report to Gayner and will work from Markel's global headquarters in Glen Allen, Virginia.

"We knew that it wouldn't be easy to find the right person for this role," said Markel chief executive officer Tom Gayner. "The pool of finance leaders with experience supporting a group of businesses and investments as diverse as ours is somewhat limited, and to find someone who also shares our commitment to success, management style, sense of humour, and other cultural values, well that's priceless to us. We are thrilled for Teri to join the team."

Gendron said: "I have great respect and admiration for Markel. From the design of the company that creates the opportunity for steady investment and growth, to the culture focused on winning over the long term, Markel is just the type of place that I will enjoy calling home. I'm honoured to be a part of it and can't wait to join the team."

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