Novae appoints Reeken Patel as new CFO

Specialist Lloyd's insurer Novae Group has appointed Reeken Patel as its executive director and group chief financial officer (CFO).

Patel joined the company in July 2014 as chief risk officer, where he led the risk and actuarial functions, and has been acting as interim CFO since November last year. He has over 16 years of experience in the industry.

Prior to joining Novae, he was a partner in the general insurance division of PricewaterhouseCoopers and their London Market Actuarial leader.

Matthew Fosh, group chief executive, said: "Reeken has an outstanding track record as a member of the executive team and we are delighted to be appointing him to the position of chief financial officer and as an executive director of Novae Group."

John Hastings-Bass, chairman, added: "Reeken's recent experience as interim chief financial officer, and his previous role as the company's chief risk officer, together with his prior experience as a partner at PricewaterhouseCoopers, provides an ideal skill set to support the delivery of our strategy."

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