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Novae Group appoints Charles Fry as CFO

New CFO to take up the post during Q2 2013

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Wholesale insurance underwriter Novae Group has appointed Charles Fry as its new CFO.

In statement on Wednesday, the company said Fry is expected to take up his position during the second quarter of 2013. He will also be appointed to the group's board as an executive director, pending FSA approval.

Previously, Fry was the CFO for global reinsurance intermediary Guy Carpenter in New York between April 2007 and June 2010. Prior to that, he worked with Apax Partners on their investment in Travelex Group.

In a statement, Matthew Fosh, group chief executive of Novae, said, “Over the past three years we have focused on driving up returns within the business. In the next three years our focus will shift towards developing growth areas within the business, and Charles has precisely the mix of knowledge and experience needed to help us do that."

Novae announced the resignation of former CFO Oliver Corbett on 23 August as he took up his new role at LCH.Clearnet on 1 December. Pending Charles Fry's arrival, Mark Hudson, Novae's director of finance, will serve as acting CFO.


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