Insurance chief Nick Lyons picked as new Lord Mayor of London
Insurance bigwig Nick Lyons has reportedly been appointed as the next Lord Mayor of London after a secretive election in the Square Mile.
Lyons, who is chairman of insurer Phoenix and a board member of Bupa, is said to have been picked for the role last night by the City of London Corporation’s Court of Aldermen.
He was selected over his younger rival Tim Hailes, a lawyer at JP Morgan who has run for the role in successive elections.
A letter sent to City leaders on Tuesday, seen by the Financial Times, confirmed the decision, saying: “[The] court agreed that Nicholas Lyons shall be supported for the mayoralty in 2022-23, subject to an election at Common Hall in 2022”.
Lyons’ appointment still needs to be voted on by the historic livery companies of London, though this is expected to be a formality.
He will become the City’s 693rd Lord Mayor in 2022 after Vincent Keavany, a partner at DLA Piper, who will succeed current mayor William Russell in October.
While the Lord Mayor title is largely ceremonial, the incumbent heads the City of London Corporation plays a significant role in representing the Square Mile.
The holder of the title is also allowed to live in the Mansion House residence in the heart of the City.