Randall & Quilter Investment Holdings Ltd. (R&Q) has confirmed that Ken Randall, Executive Chairman and Co-Founder of the firm, has notified the Board of his intention to retire as Executive Chairman and step down as a Director with effect March 31st, 2021.
It was revealed in early January 2020 that Randall would be leaving the company. At this time, William Spiegel was named Executive Director and Deputy Group Chairman, and it’s now been confirmed that he will take over from Randall on April 1st, 2021.
Randall, alongside Alan Quilter, founded R&Q in 1991 and today, the firm is a leading non-life global specialty insurer operating both Program Management and Legacy Insurance businesses.
Commenting, Randall said: “Today, the opportunities for R&Q are arguably the greatest since I founded the business with Alan nearly 30 years ago as the significant secular growth in our two core markets, legacy and program management, continues to accelerate. In addition, the strength of the management team we have built gives me great confidence in our ability to capitalise on these opportunities. R&Q has always been a business that combines entrepreneurialism, boldness and innovation and, in William, I am delighted to have identified a successor who encapsulates these values. Since his joining in January I have been deeply impressed with William’s energy, drive and vision, reinforcing my confidence in him as the right individual to take R&Q forward when I retire.
“I am hugely proud of the business R&Q has become, but I will save my thanks and reflections until next April. While, as both a co-founder and major shareholder, this smooth succession gives me great comfort, my focus today remains very much on delivering against the ambitious plans we have.”
Spiegel added: “It will be a great honour to succeed Ken, a true pioneer and genuine legend in our industry. I look forward to properly celebrating all Ken has achieved in nine months’ time, but in the immediate term I know he would not want to distract focus as we look to build on a record 2019.
“Ken has been instrumental in creating a unique business in R&Q; I’m excited to accept the challenge and responsibility of building on its culture of success and look forward to continuing to work closely with Ken over the coming nine months to ensure a smooth transition while benefiting from his unrivalled experience.”