Jonathan Davey joins SSP

See analysis: Davey's new challenge

SSP has appointed former PBS Holdings chief executive and Primary Broker Services founder, Jonathan Davey, as a director, Insurancetimes.co.uk can reveal.

Davey stepped down as chief executive of PBS Holdings in November 2007 after developing the business from its inception and playing a significant role in the group’s expansion.

In his new role, Davey will report directly to SSP chief executive, Laurence Walker.

Last month, SSP announced that it was set to be acquired by private equity firm Hellman & Friedman, in a deal that values the company at £198m. It is understood the two developments have a significant link.

Davey previously held senior positions with Sirius, which was acquired by SSP in July 2007.

Davey said: "The six years at PBS were invaluable and gave me a real taste for working in a highly entrepreneurial environment - something I was very keen to continue into my next role. SSP is in great shape and has exciting prospects. I’ve known many of the SSP team over a number of years and always admired their approach to business. SSP has significant ambitions and I am looking forward to making sure those ambitions are realised."

Laurence Walker, chief executive of SSP, added: "We are delighted to welcome Jonathan to the senior management team at SSP. Jonathan’s wide ranging experience, profile and track record will be a great asset to SSP as we move forward.

"With the acquisition of Sirius last year we lost the market profile of Nick Southan and Steve Verrall. With our executive chairman, David Rasche, having to spread his energy over a wider global stage, Jonathan will help strengthen our profile across the UK insurance industry.”