Ardonagh Group
Broker Consolidation: When two become one
Merger and acquisition activity in the broker sector is set to continue in 2015. What are the potential pitfalls and how can they be avoided?
Former FSA boss in frame to replace Lyons at Towergate
John Tiner, former CEO of the Financial Services Authority, is a contender to replace Alastair Lyons as chairman of Towergate according to a report.
AJG International CEO Chilton defends retail credentials
New Arthur J Gallagher international CEO Grahame ‘Chily’ Chilton has hit back at claims he lacks retail experience in his first interview since assuming the role.
Who killed Lucy Beale has nothing on AJ Gallagher - Towergate for soapy intrigue
It is amazing how often words come back to haunt people.
Brown and Deakin to join Towergate
Arthur J Gallagher’s commercial director Janice Deakin and executive chairman of underwriting and distribution Adrian Brown have both agreed to follow former boss David Ross to Towergate.
Chilton named as Ross' successor as Gallagher international CEO
Arthur J Gallagher has appointed Grahame Chilton as CEO of the company’s UK-based international brokerage division.
Market Moves - 19 February 2015
All the latest job moves in the insurance market.
Towergate restructuring deal expected to conclude in March
The consensual restructuring agreement between Towergate’s senior secured and senior unsecured lenders has received binding agreement from more than 75% of both sets of creditors by value.
Moody's tips Towergate Finance for potential upgrade
Moody's has placed the 'CAA2' ratings on Towergate Finance's senior secured notes and revolving credit facility on review pending a potential upgrade.
Ex-Gallagher CFO Mugge follows Ross to Sierra
Former Arthur J Gallagher International chief financial officer Mark Mugge has been appointed CFO of Sierra Investment Holdings, the investment vehicle bidding for Towergate.
Towergate tight-lipped on potential job losses after Berwick office closure
Towergate staff based in Berwick have been informed they will need to consider roles elsewhere after the firm made the decision to close its borders-based office.
Blog: Can Towergate really wait a year for Ross to join as CEO?
What a week. But are we still really any clearer about David Ross’s appointment as CEO of Towergate Group?
Editor's comment: The right candidate for the job?
Last week I advertised for a CEO for Towergate, calling for someone with broking experience and a firm hand.
Gallagher warned to batten down the hatches as Ross targets Towergate turnaround
David Ross’s success as Towergate CEO will hinge on the nature of the executive team he is able to assemble, according to market insiders, who have suggested Arthur J Gallagher International should brace itself for a raid on senior staff.
Towergate appoints CFO Egan as interim CEO
Towergate has appointed chief financial officer Scott Egan as interim CEO, following news of David Ross’ departure.
Ex-Gallagher boss Ross begins Towergate journey after Highbridge confirms swoop
David Ross, CEO at Arthur J Gallagher International, has resigned after 25 years at the broker to join Towergate's investment vehicle.
David Ross: the almost single company man who is leaving Gallagher for Towergate
Painted as a one company man, outgoing Arthur J Gallagher International boss David Ross revealed to Post four years ago this was not the case.
David Ross lined up for Towergate CEO role
Arthur J Gallagher International CEO David Ross is set to leave the company and take over at Towergate.
Towergate's Lyons hails creditor deal as ‘vote of confidence’ in the broker
Alastair Lyons, Towergate interim CEO, has hailed the deal reached with secured and unsecured creditors as “a vote of confidence” in Towergate and its future strategic plans.
Towergate confirms unsecured bondholders to purchase majority share
Towergate has confirmed that it has reached an agreement to be acquired by its senior unsecured creditors.
Towergate approves creditor takeover
Towergate has formally agreed a deal with its bondholders that will see the company taken over by its unsecured creditors, according to a Reuters report.
Unsecured creditors swoop for Towergate
Towergate's creditors appear to have struck a deal with its unsecured creditors to sell 80% of the broker's equity for £300m, according to a report.
Editor's comment: Applications welcomed
“Born again broker seeks new CEO to restore business with falling Ebitda and declining income to its former glory days. Experience of broking market preferable along with proven track record.”
Audio: Lyons on rival Towergate bids
Towergate interim CEO Alastair Lyons discusses the firm's various former suitors and why the debt-for-equity swap deal with senior creditors was its preferred bid.