RSA Insurance Group PLC (LON:JUP) has poached the finance boss of Jupiter Fund Management PLC (LON:JUP) to become its own chief financial officer.
The FTSE 250 insurer said that Charlotte Jones would take up the role in August, upon which she would leave her role at Jupiter.
READ: RSA moves CFO to new role as CEO for UK & International division
The appointment follows a horizontal move by former RSA CFO Scott Egan, who became the company’s UK & International chief executive in February after having served as CFO for four years.
Jones is no stranger to RSA, having served on its board as a non-executive director since April last year.
"I've enjoyed getting to know RSA as a non-executive Director. The business has a clear, ambitious strategy and a strong team, and I'm pleased to be getting more deeply involved to help them take their plans forward", Jones said in a statement.
Responding to the news, Jupiter chief executive Maarten Slendebroek said Jones’ move was “disappointing” but understood the “great opportunity”.
In a note to clients, analysts at broker Shore Capital said that the appointment provided RSA with “a CFO with strong financial services experience and also good knowledge of the business having served on the board for the last year”, adding that no change in strategy was expected as Jones had already served on the board previously.
In mid-morning trading Tuesday, RSA shares were down 0.8% at 534.6p, while Jupiter shares were flat at 334.7p.