Who will replace Galbraith?

Change is on the horizon at Biba. The trade body’s chief executive of almost 10 years, Eric Galbraith, yesterday announced he will step down next year.

The general market reaction to Galbraith’s decision is that he will be missed by brokers. Others, however, have welcomed the decision and the prospect of a new face leading the association into a new era.

There will be a lot for Galbraith to reflect on in his time at the top, such as numerous battles with regulators over commission disclosure, the London Market Brokers Committee split, and the merger with the Institute of Insurance Brokers.

But he will be leaving Biba in fairly good shape.

The body has increased its standing in the political field, and is now regularly in the face of politicians and senior legislators, as evidenced at this year’s Conservative Party conference.

It also has a strong executive team, including the likes of Graeme Trudgill promoting the role of brokers to customers, and regulatory whizz Steve White. And let’s not forget Andy Homer, who, as chairman of Biba, provides a strong broking backbone and knowledge of the market. He, along with the rest of the senior Biba team, are vital to its future.

Taking Biba forward

This time next year, Biba could look very different.

The results of a recent strategic review by Deloitte will help shape the future strategy of the body.

One of those will be hiring the right chief executive to implement the changes to its current approach. Who that will be is still open to debate.

Homer will be the bookies favourite for the role, but does he have the appetite? Internal candidates like Trudgill have an inside-out knowledge of how Biba operates, but will the board look outside of the body for someone with an over-arching view across the sector?

Time to place your bets.