RSA share price: Group hires Jupiter CFO for top finance job

RSA Insurance (LON:RSA) has hired Jupiter’s chief financial officer for its top finance job, the blue-chip group has said. The move comes as the London-listed insurer prepares to update investors on its full-year performance on Thursday, having warned on profits in September.

RSA’s share price has slipped into the red in London in today’s session, having given up 0.76 percent to 534.90p as of 09:42 GMT, outperforming the broader market selloff which has seen the benchmark FTSE 100 index shed 1.05 percent to 7,108.37 points so far today. The group’s shares have lost more than 16 percent of their value over the past year, as compared with about a 2.5-percent dip in the Footsie.

RSA hires Jupiter CFO

RSA announced in a statement this morning that it had appointed Charlotte Jones as its chief financial officer. She will succeed Scott Egan who moved to become CEO of RSA’s UK & International Division earlier this month.

Jones, a non-executive director at the blue-chip insurer, and a member of its Audit and Board Risk Committees, is currently CFO of Jupiter Fund Management, which she will leave to take up her new role at the FTSE 100 group. She is expected to take the top finance job at RSA by summer this year.

“We are delighted that Charlotte has agreed to join RSA as CFO. She has excellent financial services credentials and is well known to us, having served as a non-Executive Director on our Board over the last year,” the group’s chief executive Stephen Hester commented in the statement.

Analysts on insurer

Peel Hunt reaffirmed RSA as a ‘buy’ today, while Shore Capital continues to see the blue-chip insurer as a ‘hold’. According to MarketBeat, the company currently has a consensus ‘buy’ rating and an average price target of 642.85p.

As of 10:12 GMT, Tuesday, 26 February, RSA Insurance Group plc share price is 534.90p.