NU Online News Service, March 25, 1:29 p.m. EST
Brown & Brown insurance brokerage said it has named Regional President Thomas E. Riley its chief acquisition officer.
Effective immediately, Mr. Riley will assume responsibility for mergers and acquisitions activity of the firm and its subsidiaries. He will also supervise the personnel within the company who work on acquisition matters, the Daytona Beach, Fla.-based firm said.
Mr. Riley will continue to have regional oversight responsibility for operations in south Florida and the northeastern United States while assuming additional duties in connection with this promotion.
J. Powell Brown, president and chief executive officer of Brown & Brown said in a statement that, "While we continue to expect that all of our leaders will continue to play important roles in acquisitions, Tom's promotion to this position enables us to be even more agile and better equipped to identify opportunities for expansion in every area of the country."
He added that Mr. Riley "has been integrally involved with acquisitions for years. In fact, of the 337 acquisition transactions consummated by Brown & Brown affiliates since 1993, he has been personally involved with nearly 25 percent of them."
Mr. Riley has been with Brown & Brown since 1990, when he joined the firm as chief financial officer. He has been promoted through several positions over the years and was named regional executive vice president in 2001. He was became regional president in 2005.
As regional president and chief acquisitions officer, Mr. Riley will continue to be responsible for his current regional operations but will enhance his responsibilities through an expanded role in growing the company's overall operations.
A company spokesman said that the responsibilities that Mr. Riley is taking on were previously performed by Chief Operating Officer Jim Henderson who is retiring in August.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.