Kevin W. Conboy, the former president and chief executive officer of Acordia, which is now Wells Fargo Insurance Services, was named the CEO of Paramus, N.J.-based insurance brokerage The NIA Group LLC.
“The NIA Group is excited to have Kevin Conboy on board,” said Paul L. Gross, chairman of the 82-year-old insurance brokerage firm, in a statement. “In addition to formulating NIA's sales strategy, Kevin will play a significant role in the execution of our business plan of expanding our footprint through acquisitions and the addition of new brokerage professionals.”
“His experience and leadership on these fronts will be instrumental in helping us achieve our ultimate vision of leveraging a two-pronged strategy of acquisition and organic growth,” the statement said.
NIA said Steven L. Grossberg, president, will work closely with Mr. Conboy in the development and execution of the company's strategy.
A spokesperson for the firm said Mr. Grossberg formerly held both titles of president and CEO. The firm has split the positions with Mr. Conboy concentrating on acquisition growth and Mr. Grossberg focusing on operations and implementation of business strategy.
During his 16-year career with Acordia, Mr. Conboy completed 54 acquisitions, increased operating margins, incorporated cross-selling as an integral corporate strategy, and oversaw the integration of Acordia into Wells Fargo.
NIA provides insurance, risk management and employee benefits services through its 16 offices and over 400 employees in New Jersey, New York, Connecticut and Florida.
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