A day after Ryan Specialty Holdings announced a handful of executive moves following the retirement of founder Patrick G. Ryan, the company continued to promote from within by naming Edward F. McCormack chief executive officer of RT Specialty.
McCormack is currently president of the wholesale brokerage—a role he has held since 2016. He joined RT Specialty in 2010 and has served as chief operating officer and general counsel.
In addition, Brenda (Ballard) Austenfeld and Michael T. VanAcker will become co-presidents of RT Specialty. Austenfeld, who joined RT with its acquisition of Westrope in 2013, is now CEO and president of RT National Property. She will continue in this role. VanAcker is currently executive vice president of RT Specialty. He began with Ryan Specialty in 2011.
The new roles take effect on October 1, the same day Timothy W. Turner will take over as CEO of Ryan Specialty Holdings to succeed Ryan. At the start of October, Jeremiah R. Bickham will become president and Janice M. Hamilton will take over as CFO. These moves were announced July 1.
“All of these individuals are proven strategic leaders, have more than a decade of experience in senior positions within RT Specialty, and enjoy excellent relationships with clients, carrier trading partners, the larger insurance industry, and the entire RT Specialty team,” Turner said in a statement.
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