Broker appoints GUK executive Simpson as chief operating head
Bollington is to embark on a growth drive after making a clutch of new appointments and completing its management buy-out from French insurance group Groupama.
The Manchester-based broking group has strengthened its top team by adding David Simpson as chief operating officer and replaced two former directors who have left the business.
The team behind the buy-out, which includes group chief executive Paul Moors, group managing director Chris Patterson and Simpson, agreed the deal in February through a specially incorporated vehicle, Talbot Deane Investments.
They wrapped up the deal last week and now own a majority stake in the business. Insurance Times understands that GUK Broking Services, the UK broking subsidiary of Groupama SA and Bollington’s former parent firm, has retained a minority holding in the business.
Simpson will be responsible for the finance and operations functions. He has been a non-executive director of Bollington for five years and joins from GUK, where he was business support director and sat on the boards of Lark Insurance, Carole Nash and Mastercover.
He replaces Bollington’s previous operations director Philip Jones, who has left the company. Financial director Robert Blower will remain as group financial controller.
Bollington’s motor trade director Philip Price is leaving and being replaced by Jeff Dunn, who joins from Temp Cover and was previously head of new business at AXA.
Other appointments include Damon Blakey as director of corporate and speciality risks, Rachel Aston as director of marketing and Paul Brock as head of information systems.
Moors said there would be further senior appointments in the coming months, as the company continues to develop in areas including motor trade, care, charity and recruitment.
“We are delighted to now be in a position to recruit people of this calibre,” said Moors. “We are confident we are in a position to continue to develop the services and products at Bollington for the benefit of our clients, insurers and employees.”
In its most recent accounts, Bollington’s 2011 post-tax profit increased almost 50% to £1.39m (2010: £985,176).
Meanwhile, operating profits also rose, to £2.7m (2010: £1.9m) and turnover remained at £10.8m (2010: £10.4m).
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