Steve Hearn is set to expand his role as CEO of Cooper Gay Swett & Crawford, following the retirement of Gordon Newman from its CGNMB business.
Newman will retire as chief executive of CGNMB at the end of March. The broker was formed by the merger of Cooper Gay and Newman Martin and Buchan.
Hearn (pictured), already CEO of the Cooper Gay Swett & Crawford parent company, will take over Newman’s role on top of his current responsibilities, subject to regulatory approvals.
Newman will continue to be CGNMB chairman of its energy and reinsurance divisions.
He started his insurance career with the oil and energy arm of Bland Welch in 1967.
Newman later became a founding director of Willis Faber's oil and gas division and from 1982 to 1987 was managing director of
He went on to found Newman Martin and Buchan (NMB) in 1987, which was subsequently sold to CGSC in 2013.
Newman said: “With the integration of NMB and Cooper Gay as CGNMB successfully completed, I believe that now is the right time for me to step down from day to day executive responsibility, having enjoyed almost 50 years in the market.
“I strongly believe that ours is and will continue to be a people business and that, given the calibre of its people and the backing of its investors, CGNMB is well positioned to grow and prosper as an independent broker. As chairman of its energy and reinsurance divisions I look forward to being a part of that future,” he added.
Hearn said: “Gordon is a highly respected figure in our industry who has been an integral part of our business. I am grateful that, despite his decision to retire as chief executive, he has agreed to continue to provide his counsel and support as chairman of our energy and reinsurance divisions.
“We now have the resources to embark on the next stage of our strategy, which will become increasingly apparent in the coming months and I am certain Gordon will continue to play a key role in our group’s future,” said Hearn.