Specialist non-life legacy insurance investor Randall & Quilter has made a series of changes to its senior management team following a notable resignation.
Tom Booth, the group’s chief financial officer, has resigned as director with immediate effect and will be leaving the R&Q Group from June 30, 2018 to “pursue alternative opportunities,” prompting a reshuffle.
“Tom joined the Group almost 10 years ago, shortly after R&Q listed on the AIM market of the London Stock Exchange,” commented Ken Randall, group chairman, on the departure. “He has made a significant contribution to the development of R&Q’s business and we shall miss his intelligence and energy. I wish him every success in his future career.”
As a result, Alan Quilter, group deputy chairman, is set to resume his role as group chief financial officer – a position he had held in the past. In addition, he will take the lead in terms of group-wide development of programme business; while Randall will remain as chairman and CEO.
In addition, Mark Langridge, the group’s CEO of insurance investments, will now step on to the group board and will continue to be responsible for group-wide legacy acquisitions.
In a release announcing the shake-up the group additionally commented that its simplification is “proceeding well” and that further disposals are likely to be agreed on and announced shortly.
“The management changes being announced today are designed to enhance business development, capital management and operational efficiency,” commented Randall. “The simplification of our business following recent and planned disposals, will enable Alan Quilter and I to devote more time to ‘hands on’ business development.”