NU Online News Service, Feb. 7, 10:54 p.m.EST

New Connecticut Gov. Dannel Malloy chose the chief executive ofan investment advisory and banking firm to head the Department ofInsurance.

Thomas B. Leonardi is chairman and chief executive officer ofNorthington Partners, Inc. of Avon, Conn. and has providedstrategic, investment, capital raising and financial advisoryservices to insurance companies.

Mr. Leonardi's experience in the insurance industry alsoincludes advising managements and boards of reinsurance, workers'compensation, alternative risk reinsurance and medical malpracticeinsurance companies.

In 1997, Mr. Leonardi's firm was involved in setting up $107million in capital funds for insurers looking to move intoConnecticut. The move was part of a strategy to stop an exodus of insurance-related jobsfrom the state due to layoffs and downsizing,

Mr. Leonardi said the decline in insurance jobs is still areality in Connecticut. The number of people working in theinsurance industry in the state is down nearly 25 percent over thelast 20 years, he said.

"We need to reverse this decline and bring new insurance jobs toConnecticut," Mr. Leonardi said.

"It is important to have someone in this position who can strikethe appropriate balance between consumer protection and businessdevelopment," said Gov. Malloy. "We all know that the rising costof health care is linked to our state's ability to attract and keepjobs, and I'm confident that Tom's membership on several boards,providing management and financial guidance, coupled with hiscommitment to giving back to his community through time spentworking to secure coverage for the employees of a number of small,not-for-profit organizations will be a benefit to our state."

Gov. Malloy, a democrat, replaces Republican Gov. M. Jodi Rell,who did not seek reelection.