Andy Fairchild named Broker Network chief exec

Towergate has appointed Footman James managing director Andy Fairchild as the new chief executive of Broker Network. He will take up the role from 11 August.

He replaces Gary Duggan, who has taken up the role of Paymentshield chief executive.

Fairchild joined Towergate in December 2013 after its purchase of Footman James from Aon.

Fairchild said: “I am delighted to be moving into such a pivotal role in UK independent broking. Broker Network members can rest assured that I will work tirelessly to deliver a truly market leading network proposition for them.

“I look forward to leading the Broker Network team to deliver against those important promises, which will ensure the successful implementation of our strategy.”

In his new role, Fairchild will report to Towergate Group chief executive Mark Hodges.

Towergate said Fairchild’s first priority would be to meet with both employees and members to ensure the focus on member services remained paramount.

In Towergate’s 2013 full year results, the network division performed the worst with a 42% fall in profit to £6.1m and income down 22% to £14.5m.

In the first three months of this year, however, it started to show signs of improvement, with operating profits up 26% to £1.8m, while turnover increased by 10.2%, owing to higher insurer service fees.

Commenting on Fairchild’s appointment, Hodges said: “I am delighted that Towergate continues to enable progression internally with a focus on developing talent.

“This is an exciting opportunity for Andy. I know he will continue the great progress started by Gary. His enthusiasm and energy will no doubt set in action plenty of new activity at Broker Network.”

Towergate will be making an announcement about Fairchild’s replacement closer to the time of his departure from Footman James.