Global reinsurance broker BMS Re has appointed Andrew Wheeler and Russ McGuire as co-Chief Executive Officers (CEOs) following the transition of Pete Chandler to vice-chair of the company.
Chandler led the reinsurance broker for more than four years, and will remain a director on the US board as he assumes a strategic, client-focused role as vice-chair of BMS Re.
Under Chandler’s leadership, the global reinsurance broking arm of BMS Group achieved impressive growth and now has offices across the U.S., London, Bermuda, Middle East, Latin America, and Asia.
In his new role, Chandler will continue to work with key clients, support the firm’s brokers in managing valued carrier relationships and work alongside Nick Cook, Group CEO, to help attract and develop the next generation of leaders.
BMS Re adds that Cook will now chair the US executive committee.
Together, Wheeler and McGuire will take on responsibility for the broking teams across the US, executing continued growth strategies and ensuring a smooth leadership transition.
Wheeler has been with BMS Re for more than two decades, while McGuire joined the broker last year after 18 years with reinsurance giant Swiss Re.
“Now is the right time for me to step away from the day-to-day CEO role of BMS Re having achieved what we set out to do when I joined the business. I am extremely proud of what we have built, we have grown into a business that we are all incredibly proud of and it has been my enormous privilege to have led it and worked alongside my amazing colleagues. I cannot wait to go back to what I love the most, helping our clients better their businesses and working closely with our fantastic teams across the US and around the world,” said Chandler.
“I will be focusing my time on the company’s key clients and working directly with them in assisting with their growth plans, capital requirements and supporting Nick Cook, Group CEO, to put in place the next generation of leaders within this fantastic company,” he added.
Cook said: “The foundations of BMS Re’s success owe an immense amount to the total dedication of Pete who can be hugely proud of all he has achieved. Under his leadership, we saw BMS Re revenues and EBITDA triple as well as the hiring of over 175 new colleagues in the past 4 years. BMS Re is poised for its next stage of growth and investment, and I greatly look forward to 2024.”
