Wiedemann Named Chairman of Summit Global

Dallas-based international insurance brokerage and consulting company Summit Global Partners announced that industry veteran Joseph R. Wiedemann has been named chairman of its Board of Directors. Additionally, Summit Global said it formed a new Office of the President and put together a leadership team to manage the company.

Wiedemann replaces Gary R. Griffith who resigned as chairman and CEO to pursue other business opportunities. Griffith will remain a director of the company.

“Gary Griffith created a successful, growing company with extraordinary resources and a fresh approach,” Wiedemann said. “His vision of an agile, technology-enabled brokerage offering superior, yet cost-effective solutions has now been achieved, and we understand his desire for new challenges.”

A member of SGP’s board with over 50 years experience in the insurance industry, Wiedemann retired in 1996 from American International Group where he served in various senior executive capacities and previously was chairman of American Home Assurance Company.

“I enjoy building new innovative and profitable companies, and I am proud of what we have accomplished in seven short years,” Griffith said. “SGP is in good hands with Joe Wiedemann and our new management team.”

The company created a new Office of the President and named three experienced SGP managers who will share responsibility for guiding SGP’s strategic growth and providing the resources and leading edge technology that will fuel the company’s continued prosperity.

Jeff Pan was named president of Summit Global Partners and will be responsible for finance, operations and administration. Prior to joining SGP in 1997, Pan held various senior executive positions with Gerald J. Ford interests and with MBank Dallas, N.A.

Jeff Haynes, president/CEO of Summit Global Partners of Florida, will manage the SGP’s Eastern Retail Division and Wholesale Division. Haynes was president of Lon Worth Crow Insurance Group prior to its acquisition by SGP in 1998. He has 22 years in the insurance industry.

Jack Wagner, president & CEO of SGP of Texas, will assume responsibility for the Western Retail Division. Wagner has over 25 years experience in the industry and was president of Pitts, Rolling, Schnell & Wagner prior to its merger with SGP.

The company also moved to strengthen its relationships with the markets by appointing Jim Parry to the newly created post of carrier relations manager. Parry is the president and CEO of SGP of Michigan.

The company also announced the commitment of a new $15 million senior credit facility in a transaction led by Comerica Bank, SGP’s long-standing banking partner. Proceeds from the new credit facility will be used to support the company’s expansion plans, including its newly launched SGP Employee Benefits Consultancy.

“We have several important initiatives that will be advanced using these funds,” Wiedemann said. “Our success has been built upon strategic acquisitions in major business centers, recruiting talented professionals and developing the products and services desired by our clients.”