CAC Specialty, an insurance brokerage and investment banking platform recently established by Cobbs Allen, has appointed Michael D. Rice II as its Chief Executive Officer.
Rice, who joins after having led JLT Specialty USA as CEO for nearly five years, will lead CAC’s team of insurance and Wall Street executives including Bruce Denson Jr., President; David Payne, Chief Revenue Officer; and Jack Leventhal, Senior Managing Director and Head of Investment Banking.
He brings more than 25 years’ experience in the brokerage industry, 20 of which were spent serving in various leadership capacities at Aon.
“We are delighted that Mike has decided to join CAC Specialty as our Chief Executive Officer,” said Paul Sparks, Executive Chairman of CAC Specialty.
“His unmatched talent, industry experience, and institutional relationships will greatly enhance our growing market presence. Mike’s appointment is a demonstration of our continued, unwavering commitment to build a best-in-class, game-changing industry platform.”
Commenting on his appointment, Rice said, “I’m honored to be joining CAC Specialty as its CEO.
“I am grateful to the Board of Directors for their trust in me and for the vision that built this innovative and integrated insurance brokerage and investment banking platform.
“CAC has assembled an incredibly talented group of insurance and investment banking specialists, all of whom are focused on challenging the status quo for the benefit of our clients and our employees. Our foundation is strong, and I could not be more excited about our future.”