Nexus Group has revealed the establishment of Xenia Broking Group Limited, a London-based entity launched to consolidate Nexus’ broking activities.
The consolidated broking activities will remain independent and segregated from the Group’s underwriting operations, and Xenia will have Nexus Group Non-Executive Director, Jeremy Adams as Chairman of its Board of Directors.
He brings extensive industry experience to the role, having previously been Chief Executive Officer (CEO) of Novae Syndicates, being one of the founding directors of Special Risk Services, and has also held senior positions at Willis and Aon.
Tim Coles, current Chief Operating Officer (COO) of Nexus Group, will also assume the role of CEO of Xenia.
Joining Adams and Coles on the Board of Directors, is Mike Clark, Hayden Tennant, and Lisa Humphries, the three directors of Credit Risk Solutions, an independent Trade Credit brokerage acquired by Nexus in 2017. Nexus Group CEO Colin Thompson and Nexus Group Chief Financial Officer (CFO), Stuart Rose, complete the initial Board of Directors composition.
Coles commented: “Xenia was formed in order for us initially to continue building our trade credit broking capability and to do so independently of Nexus’ underwriting divisions.
“We are very excited for Xenia’s future as we have a rich pipeline of new opportunities to explore and believe we are offering an ideal platform for those specialists that want to retain independence whilst unifying with similarly ambitious teams and benefitting from expert insight and invaluable industry experience.”