It’s all change at the top for Gallagher in the UK with the brokerage giant today revealing a host of major changes.
Jonathan Turner (pictured), who has held the role of CEO of Pen Underwriting for the last three years, is to become chief executive officer of the firm’s UK-based specialty business. He takes the role as current CEO John Thompson steps into the position of head of business development for the division.
Turner’s move, of course, opens up a vacancy at the top of Gallagher’s MGA Pen – but that has been quickly filled by Tom Downey, who had been chief underwriting officer for the division dating back to 2017.
According to the CEO of Gallagher’s broking and underwriting business in the UK, Simon Matson, the role taken by Turner is highly significant given the recent expansion that included the acquisition of the 250-strong JLT Global Aerospace team less than 12 months ago.
“Our specialty division has undergone considerable growth in the past 12 months and is now almost unrecognisable having doubled in size over the last five years and firmly establishing itself as a leading London Specialty broker,” he said. “Having a dedicated head of business development, particularly one with John’s broking experience, wholesale expertise and passion for growth, will ensure we take full advantage of the many opportunities our enlarged presence and portfolio gives us.
“Jonathan is an exceptional leader, as he has demonstrated during his three years as CEO of Pen Underwriting, making him the natural choice to become the new CEO of our specialty division and to lead the 950-strong team through the next phase of our growth strategy.”
Speaking about the switch at Pen, meanwhile, Matson added that it too has undergone incredible change – having been brought together from 12 specialist MGAs – and now Downey can further its development.
“As CUO, Tom has been at the centre of that transformation and is well deserving of this promotion to the top job as CEO,” he said. “It speaks volumes about the quality of our senior leadership that we are making these senior team changes from within our own internal talent pool.”
All of the moves remain subject to standard regulatory approvals.