Towergate hires Brit finance chief as Patrick quits

Towergate has hired Brit finance chief Scott Egan to replace finance head Ian Patrick, who is leaving the broking group.

Towergate did not give a reason for Patrick’s departure, but chief executive Mark Hodges said in a statement: “I would like to thank [Patrick] for the part he has played in Towergate’s significant progress since he joined in 2006.”

Patrick’s departure is the latest in a series of changes that have taken place since Hodges took the helm of Towergate last year.

Egan became Brit’s finance chief in January 2011, having previously worked as Zurich’s UK finance chief for four years. Brit is undergoing a series of changes following its purchase last year by private equity consortium Achilles and the installation of a new chief executive, Mark Cloutier, who replaced long-standing chief Dane Douetil last October.

Brit has recently laid off its marketing team and announced its intention to merge its reinsurance and global markets units.

Commenting on Egan’s appointment, Hodges said: “We have made no secret of our desire to ensure that Towergate is fit for future growth. In order to do this and to realise the full potential of our business, we are investing in capability and experience.

“Scott brings impressive executive experience from well-respected and listed companies, and has helped drive strategic change within some of Europe’s largest insurance businesses. His appointment is yet another example of how Towergate is able to attract first class talent as we rise to the challenge of shaping our business to achieve ambitious plans for growth in the coming years.”

Brit this morning confirmed who would step in to replace Egan.