Henry Colthurst has been elected as the new Chairman of the City of London Corporation’s Finance Committee.
Colthurst will lead the committee responsible for stewardship of the City Corporation’s funds. The committee aims to ensure the organisation achieves value for money in all its activities and maintains a sustainable financial footing.
Colthurst has worked in the London insurance market for over 40 years – for 15 years in broking before switching to underwriting in 1995.
Since 2002 he has specialised in managing insurance businesses in run off in London, Sweden and Singapore as well as resolving litigated insurance liabilities across all classes and numerous jurisdictions across the world particularly USA. He remains director of a Lloyd’s corporate name.
He represents the Lime Street Ward having been first elected to the City Corporation’s Court of Common Council in 2013.
Colthurst, said: “I am pleased to be taking on this role at a critical time for the Square Mile. I look forward to working with my colleagues to support the City and its businesses as they recover from pandemic.
“The role will involve responding to new working patterns, including the challenges posed by hybrid and flexible working as well as those posed by inflation, capital building projects, eco-friendly ambitions and energy costs.
“I hope to maintain a prudent hand on the City Corporation’s finances and promote a better understanding of the City Corporation’s financial position in order to allow efficient and informed decision making as we face material financial challenges and set key priorities for the next few years.”