IAG Managing Director and CEO Nick Hawkins has appointed William McDonnell as IAG Chief Financial Officer (CFO) effective 11 December 2023, subject to regulatory approval. Mr. McDonnell has more than 25 years' global experience across insurance, finance, capital markets, risk, governance, and regulation. Mr. McDonnell spent 15 years at general insurer Royal & Sun Alliance Insurance Group (RSA), where for the last seven years he was Group Chief Risk Officer with accountability for the Group's risk, including strategic, underwriting, financial, compliance, and assurance.

Mr. McDonnell left RSA when it was acquired in 2021 by Danish insurer Tryg and Canada's Intact Financial Corporation. During his time at RSA, Mr. McDonnell also held senior finance and capital roles. He was Group Director of Financial Reporting and Control, and Head of Economic Capital, Corporate Finance and Capital Management.

Mr. McDonnell also created and chaired RSA's ESG Committee, was a founder member of the Bank of England's Climate Financial Risk Forum, and a member of the University of Cambridge ClimateWise Council. He chaired the CRO Forum Emerging Risk Initiative, leading its research into climate risks and insurability. Mr. McDonnell joins IAG from the global governance body, the Integrity Council for the Voluntary Carbon Market (ICVCM), where he spent two years as Chief Operating Officer, reporting to the Chair.

Mr. McDonnell built the organisation from its foundation, leading it to be recognised as the world's standard-setter for carbon credits, and he oversaw the recent release of the Core Carbon Principles and rulebook. Mr. McDonnell has also held roles at HSBC Investment Bank, Aviva, the UK Financial Services Authority and Deloitte. Mr. McDonnell has a BA in Classics from Oxford University and is a member of the Institute of Chartered Accountants in England and Wales.

IAG's current CFO, Michelle McPherson, who announced her retirement in May this year, will remain with the company until the end of the calendar year.