The board of directors of Randall & Quilter Investment Holdings Ltd. (R&Q), the non-life insurance investor and capacity provider of U.S. and European MGA program business, appointed William Spiegel executive director and deputy group chairman.

Spiegel's appointment forms part of R&Q's management succession plan. He will assume the position of executive group chairman when R&Q co-founder, Ken Randall, steps down in around 12 months, after 29 years at the helm.

In response to Spiegel's appointment and to position R&Q to manage the expected expansion of its business in the United States and Europe, R&Q says it expects to make a small number of additional appointments, including the appointment of a new group chief financial officer. There will also be some realignment of internal management reporting lines and responsibilities.

"I am delighted to welcome an industry professional of William's calibre to the senior leadership team at R&Q," Randall, group executive chairman, said in a statement. "I have known William and followed his career for many years and I know R&Q will hugely benefit from his expertise in managing and growing leading insurance businesses."

Prior experience

Spiegel is joining R&Q from U.S. private equity firm Pine Brook, where he was managing partner and which he co-founded in 2006. He was responsible for managing Pine Brook's financial services investing activities. He was also a member of the firm's investment committee and management committee.

Spiegel has 30 years of private equity experience and has been a leading financial services growth investor since 2001. Prior to co-founding Pine Brook, he was with The Cypress Group from its inception in 1994 until 2006, leading its financial services and health care investing activities.

"It is a huge honour to be given this opportunity and I am looking forward to applying my 30 years of experience to R&Q. I have built my career on growing financial services companies in the U.S. and the U.K. with a particular emphasis on insurance and insurance services," Spiegel said in a statement. "Under Ken and Alan's leadership, R&Q has undergone a significant transformation in the last few years and it has focussed on two of the fastest growing and most interesting areas of insurance. It will be my priority to continue to deliver profitable growth and build on R&Q's tremendous success."

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Randall & Quilter names William Spiegel as part of its succession plan

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