PIB hires former Towergate M&A head Ryan Brown

Start-up broker PIB Insurance Brokers has hired former Towergate mergers and acquisitions (M&A) head Ryan Brown (pictured) as group chief financial officer.

He will report to PIB chief executive Brendan McManus. Brown will help support PIB’s growth by working with McManus on acquisitions.

McManus said: “Bringing Ryan on board is a very exciting milestone for PIB Insurance. He forms a key part of the management team we are assembling and brings a wealth of valuable sector insight to our operation, both from his experience as a banker and his deep M&A expertise.

He added: “We are confident that he will play an integral role in growing our business, particularly as we look to become a major consolidator of insurance distribution businesses.”

As Insurance Times revealed in October, Brown left Towergate amid a shake-up of the broking group’s finance team by chief financial officer Mark Mugge.

Brown joined Towergate as M&A director from investment bank Keefe Bruyette & Woods (KBW) in June 2013. He moved to the the role of finance director for Towergate Underwriting when the M&A team was disbanded in April 2015.

Before working at KBW, Brown was a managing director of investment bank Fox-Pitt, Kelton, which was ultimately acquired by Macquarie.