Former Capita chairman to head up Bermuda and US operations.
Randall & Quilter (R&Q), the insurance run-off services and acquisition specialist, has appointed Capita Commercial Insurance Services chairman Jerry McArthur as chief executive of its US and Bermuda operations
The appointment is effective as of 1 October 2008.
As chairman of Capita Commercial, McArthur was responsible for the run-off; finality; London market and international operations of Capita Insurance Services.
Prior to Capita, McArthur had been chief executive of CMGL since its inception in 1993, and took the company from start-up to a fully fledged outsource service provider operating in eight countries.
Commenting on McArthur's appointment, Ken Randall, chairman and chief executive of R&Q, said: "Jerry has a great track record of winning and building business in our sector.
"We have ambitious plans to develop the business in the US. R&Q is already established, with offices in Massachusetts, Rhode Island and Pennsylvania and recently gained approval for a Class 3 reinsurer in Bermuda.
"I have known Jerry for years: he is energetic and very experienced and his arrival will give everyone a boost and drive benefit to the bottom line. I am truly delighted that he has agreed to join us."
Commenting on his appointment, McArthur said: "I am a great admirer of R&Q's business model and its proven ability to close transactions. It has huge potential in this specialist sector which is now underpinned by its successful listing on AIM. The combination of its inherent skills, track record and access to capital is compelling. Joining R&Q provides me with the opportunity to contribute to realising value for shareholders and to sharing the rewards. I am relishing working with Ken, Alan and the rest of the team"
CMGL was owned for several years by Zurich Financial Services prior to a successful management buy-out in 2005, which was led by McArthur and backed by Sovereign Capital. It was subsequently sold to the Capita Group in 2007 for £32m, creating significant shareholder value in the process, having grown to approximately 500 staff and turnover approaching £50m.
