Close Brothers Premium Finance (CBPF) has named Colin Wallace (pictured) as its newest director of sales – personal finance.
Wallace, who assumes his new role at CBPF on May 03, brings with him 30 years of experience on both the insurance and broking side of the business, having worked for companies like Aviva, Allianz, Hiscox, Ace, and Brightside. He also spent two years as a partnership director at Towergate Retail Insurance Broking, before moving to TransUnion, where he was most recently serving as director of insurance and partnerships.
As director of sales for personal finance, Wallace will report to CBPF managing director of premium Seán Kemple. Wallace will also work alongside director of sales for commercial lines Elliot Hayes.
According to Kemple, Wallace’s responsibility would be to grow the personal lines premium finance business among brokers in the UK and Ireland. Kemple will also support CBPF’s broking partners and their customers as they navigate a changing regulatory environment.
“It’s great to have someone of Colin’s immense experience on board at a time when personal lines broking is going through the seismic changes caused by the dual pricing regime in the UK, and further change ahead as a result of the new Consumer Duty,” stated Kemple.
“We were insistent on finding a candidate who fully understood the challenges and opportunities facing personal lines broking and could support and guide our partners with real authority. It quickly became apparent that Colin fitted the bill perfectly.”
Kemple added that Wallace’s appointment “is a key step” in CBPF’s plan to enhance the strength of its senior team, by bringing in experienced industry talent. He also noted that CBPF’s hiring of an industry veteran with extensive broking experience ensures that “broking interests are taken account of in [CBPF’s] investment programme and all [its] strategic decisions that impact [its] partners.”
“This new opportunity is hugely exciting. In my previous role (at TransUnion), I championed a strategy to close the gap between what clients were saying and how the business responded,” commented Wallace on his new role.