Marsh Appoints Sir Iain Lobban as Senior Adviser, Cyber Risk
New York | February 11, 2016
Marsh, a global leader in insurance broking and risk management, today announced the appointment of Sir Iain Lobban KCMG CB, former director of the UK security and intelligence organization the Government Communications Headquarters (GCHQ) as senior adviser on cyber risk. In the newly-created role, Sir Iain will provide strategic advice as Marsh works with governments, regulators, and clients on how best to address the growing threat of cyber risk. He will report to Mark Weil, CEO, Marsh UK & Ireland and join Marsh’s global Cyber Center of Excellence.
Sir Iain was director of GCHQ –– between 2008 and 2014, having previously served as director general of operations from 2004. As the director of GCHQ, he attended meetings of the UK National Security Council and was a member of the Joint Intelligence Committee.
Cybersecurity, both in the UK and internationally, was the major focus of Sir Iain’s tenure at GCHQ. He integrated the intelligence and security arms of GCHQ to develop the UK’s cyber defense capability and operations, as well as driving initiatives in support of UK military campaigns, counter terrorism, and the prevention and detection of serious crime.
Commenting on the recent appointment, Mark Weil said: “Cyber risk is one of the biggest risks that confronts our clients. It is a new threat, unbounded by geography and set to escalate as more goes online and as the barriers to entry for criminals comes down. Sir Iain is one of the world’s foremost experts on cybersecurity and we are delighted to have his talent available to Marsh as we work with our clients on how best to handle the threat of cyber-attack.”
Marsh’s UK 2015 Cyber Risk Survey Report found that, while cyber risk featured on the risk registers of almost 75% of firms, senior-level engagement was worryingly low. Corporate directors were primarily responsibility for cyber risks in less than one fifth (19.4%) of the organizations surveyed, while IT departments oversaw management of the risk in more than half (55.5%).
Sir Iain added: “I’m very impressed with how Marsh has been at the forefront of raising awareness and helping companies take ownership of their cyber risk. I’m keen to help shape this strategic thinking and to push forward with the development of effective partnerships and frameworks to anticipate and respond to cyber threats.”
Marsh is the world’s leading insurance broker and risk adviser. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue over US$15 billion and 75,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading firms: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.