London-based broker Cooper Gay announced that it has restructured its UK business, Cooper Gay & Co Ltd, into three core trading units to form a stronger and more streamlined platform for growth. The UK business is part of Cooper Gay/Swett & Crawford.
Cooper Gay delineated the restructuring as follows, and said it would take effect immediately:
• Reinsurance – led by Reinsurance CEO Andrew Hitchings
• International (incorporating Non-Marine, Energy and Underwriting & Distribution Management) – led by International CEO Chris Butcher
• Specialty (incorporating Marine, Aerospace and Professional Risks) – led by Specialty CEO Stephen Barton
“These three core trading units will sit above existing divisional structures, reporting to Cooper Gay & Co Ltd CEO Shaun Hooper, and will be tasked with supporting effective corporate governance and driving the delivery of the company’s strategic aims and objectives,” said the bulletin. “The divisions will continue to function under their existing operational structures, supported by finance, operations, compliance and human resources teams as before.”
Cooper Gay added that its “UK Board, which is responsible for overall management and setting the long term strategic direction of the business, has also been strengthened, pending FSA approval, by the addition of Stephen Barton and Andrew Hitchings to form an eight-strong board.
“The restructure follows last week’s announcement that Cooper Gay & Co Ltd had brought together the management of its non-marine and energy operations in the UK to create an International trading unit.”
Cooper Gay & Co Ltd CEO Shaun Hooper commented: “Driving growth, enhancing leadership and delivering effective corporate governance are vital elements of Cooper Gay’s development strategy that we believe will be best delivered through the formation of three streamlined trading units. With the three teams fully aligned, we will focus on developing their combined strengths to generate additional business, and support and enhance the delivery of service excellence for our clients.”
Source: Cooper Gay & Co. Ltd.
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