Employee benefits broker The Graham Company has announced that it has become fully employee owned through an employee stock ownership program (ESOP) trust. The 100% employee ownership ensures that the firm will continue to be a privately held company moving forward.

Despite the change in ownership structure, the company said it will continue to operate under the same business model and management organization.

“By making the transition to an employee-owned organization, we are grateful to be rewarding our employees for their countless contributions to clients’ successes, while empowering them to play an integral role in our shared future,” Bill Graham, chairman and chief executive, emphasized.

Want the latest insurance industry news first? Sign up for our completely free newsletter service now. 
  
According to a company statement, the firm tapped MarshBerry & Company to undertake the ownership change, which grants company stock to employees as part of their retirement benefit plan.

“For our valued clients, it means we will continue to attract the best and brightest, fiercely committed to proactively helping businesses in high-risk industries navigate complex insurance issues and keep their employees safe,” Ken Ewell, president and chief operating officer, said in the statement.


Related stories:
JLT positive about future of US business
Leavitt adds new agent to tap campground and parks market