Former Bermuda Commercial Bank chief operating officer Horst Finkbeiner has been named as a non-executive director of LOM (Holdings) Ltd.

The company made the announcement today, also revealing that Donald Lines has retired as chairman, to be replaced by Scott Lines.

Mr Finkbeiner, who left BCB in December last year, will also sit on the boards of the company’s three Bermuda-regulated subsidiaries.

A Fellow of both the Institute of Directors (IoD) in London and of the International Compliance Association, Mr Finkbeiner in 2012 became the first Bermudian to receive the IoD’s Chartered Director designation in Bermuda.

He also serves as a trustee of the Bermuda High School and chair of the Strategy and Advancement committees.

LOM CEO Scott Lines said: “I am very pleased that Horst has joined the LOM board. He brings with him many years of financial industry and corporate governance experience. His knowledge of the Bermudian and international financial services sector is extensive and his experience in corporate governance will be most helpful to the board and the group.”

At the same meeting, on April 22, Donald Lines retired as chairman, but was given the new honorary position of chairman emeritus, in honour of his 21 years of invaluable service on the board, the company stated. He will remain a non-executive director of the company.

Newly appointed chairman Scott Lines said: “On behalf of the board, I would like to express deep appreciation and thanks to my father for the help, guidance and advice that he has provided to the company through many years.

“I would also like to thank the chairman emeritus for continuing to serve as a director of the company, where he will remain a source of wisdom acquired through many years of business experience. LOM plans to hold a small ceremony to honour him at the upcoming annual general meeting.”