Square Mile and Me: Admiral CFO Geraint Jones on heading up the FTSE 100’s only Welsh company

Each week we ask a City figure to take a trip down memory lane. Today, Geraint Jones, chief financial officer at Admiral Group, tells us about his career from exercise tech to insurance

What was your first job?

After a very heavy Sunday paper round when I was a boy, in my first summer of university I worked in an electronics factory in Tonyrefail (a small Welsh Valleys town) called ‘Flextronics’ where I was chief electrical tester for a white-label abdominal toning machine. Think Slendertone, but lower quality.

What was your first role in finance/insurance?

After graduating from Aberystwyth University, I worked as an auditor at EY and KPMG for five-ish years. It was great professional grounding and it is where I had my first taste of insurance. I joined Admiral in 2002 as a group accountant. I’m still here and still loving it.

When did you know you wanted to build a career in finance?

I remember halfway through studying my A Levels and telling our school careers adviser I wanted to be a vet. She said something along the lines of “Geraint, you’ve chosen totally the wrong subjects, so you can either start A levels again or choose a new career”.

I was studying English, French and Economics, and so the obvious choice was to follow in my father’s footsteps and train to be an accountant – as did my brother, and both his wife, and my wife.

What’s one thing you love about the City of London?

It is impossible to name just one. I live and work in Cardiff, but when I’m in London, it’s usually for an event or occasion. Whether it’s Admiral’s full-year results announcement, investor roadshows, or watching Liverpool win the Carabao Cup at Wembley.

When I’m in London, it doesn’t matter which day of the week or time of the day it is, there are people to see and places to go. It’s an amazing city. I’m running the London Marathon in a few weeks and I can’t wait to soak up the atmosphere.

And one thing you would change?

If we could have fewer traffic jams across the city that would be lovely.

And how does it feel being the only Welsh company in the FTSE 100?

It makes me proud. This year, Admiral Group is celebrating 20 years since our float on the London Stock Exchange. It is a double milestone year for me as 2024 also marks a decade of me being Admiral Group CFO.

I still remember vividly the day we floated. There was a real buzz in the office as our colleagues celebrated. Every year we still award our people with shares in the business to thank them for their dedication and allow them to – quite rightly – share in the success they help us create. The week after the IPO, the founders gave mini bottles of champagne to all the staff – I still have mine! (It is looking a bit murky though!)

Admiral’s longevity in the FTSE 100 is a testament to the hard work and tenacity of our colleagues, not only in the UK, but across the world.

What’s your most memorable lunch or dinner?

My wife and I aren’t too far from away from being empty nesters (bar the Cockapoos), so we try to have as many memorable family dinners as possible when we’re all together.

And any City faux pas?

On my first day of my first proper job (at EY) I was chatting to someone, who went on to become my wife, when the boss of the region came to talk to us. I stumbled backwards and launched a glass of orange juice over his white shirt. That was awkward. I was also wearing a very low-quality three-piece suit which received a lot of (undue) abuse.

What’s been your proudest moment?

Tough one – I’m proud (and very lucky) to work for a great company with really brilliant people, but I probably should say I’m most proud of my two boys. One is just about to do his A levels and the other is in his second year at university. So far so good with those two – mostly my wife’s work to be fair.

And who do you look up to?

I’ve been massively lucky to have great bosses from day one at Admiral. All five of them have been excellent and helped me throughout my Admiral career. They include Admiral’s founders Henry Engelhard and David Stevens, whom few people get to work directly for.

Likewise, our current Group CEO, Milena Mondini de Focatiis, who is one of only 11 female CEOs in the FTSE 100 and is a terrific boss and leader.

But mainly I have to say Jürgen Klopp. Not just for being a top-two premier league manager of all time, but also his unconditional love and loyalty to Liverpool FC – admirable qualities.

Are you optimistic for the year ahead?

Despite what my colleagues might say I’m a pretty glass half full person. We have just reported a solid set of results and Liverpool are still on for four trophies. If most of that comes good I’ll be happy! (maybe a decent
set of A levels and uni exams for the kids too).

We’re going for lunch, and you’re picking – where are we going?

I love Japanese food. Shall we go to Sushi Samba? The lift, the view, the food. I had my first visit a few months back – won’t be the last.

And if we’re grabbing a drink after work?

I’ve had some great evenings in the Red Lion on South Place near Liverpool Street. Nothing fancy, but lovely to have a drink outside on a warm evening.

More often it’ll be in my local in Cardiff – the Black Griffin – a very convenient three-minute walk from home. Full cliché but there’s always someone you know in there.

Where’s home during the week?

Home for me is just outside Cardiff. I like going to our head office in Cardiff most days to connect with colleagues. There are also fewer distractions than at home with two Cockapoos barking.

And where might we find you at the weekend?

Right now, I’m doing a fair bit of running in preparation for the London Marathon. My third time and I love the day (the training not so much). I’m raising money to support Tenovus, a brilliant Welsh cancer charity. After nearly 30 years on the waiting list, I’ve just managed to get season tickets at Liverpool this year so I’m often up there with my youngest too.

You’ve got a well-deserved two weeks off. Where are you going?

I love Portugal with the family and maybe friends when we can. A creature of habit, but it has a lot of good memories of trips when I was a kid and taking our boys there from when they were born. Great beaches, perfect weather, lovely restaurants.