Randall & Quilter Investment Holdings Ltd., the global non-life specialty insurer with a focus on the program management and legacy insurance business, has announced that its Board of Directors has appointed Thomas Solomon as Group Chief Financial Officer (CFO).
Solomon will be based in the firm’s New York office and will report to William Spiegel, Group Deputy Executive Chairman. In addition, Solomon will also be appointed to the company’s Board of Directors later in the year.
He joins R&Q from his current role at Bank of America as Managing Director and Head of Americas Insurance Investment Banking. Previously, he has held senior roles at Citigroup and PricewaterhouseCoopers, LLP.
Commenting on Solomon’s appointment, Spiegel said: “I have known and worked with Tom for many years and I have always admired his dedication, hard work and professionalism. Tom’s skillset includes a deep understanding of the insurance sector, a strong numerical background and expertise in the capital markets and M&A. These attributes will prove invaluable in his new role as CFO. In addition, we look forward to Tom managing the essential functions associated with group finance, including cash and capital management, solvency, reserving, actuarial and rating agency matters.”
Alan Quilter, Group Chief Executive Officer (CEO) and Interim CFO, said: “Tom joins us at an exciting time in our growth. His experience will be critical as we seek to capitalise on the current “hard” market in both our Program Management and Legacy businesses, particularly following our recent $100 million equity raise. Ken, William and I look forward to partnering with Tom.”
Ken Randall, Group Executive Chairman, added: “We are delighted to announce the appointment of Tom as our CFO. His experience and skillset make him an excellent fit and it follows the appointment of William Spiegel as Group Deputy Executive Chairman, continuing R&Q’s careful succession planning. I am pleased with the strength of our management team as we look to capitalise on the opportunities ahead of us. Importantly, Tom’s appointment will enable Alan Quilter, currently acting as interim CFO, to focus on his responsibilities as CEO.”
On his new role, Solomon said: “I am excited to join R&Q. It is a company I have known and respected for many years and am pleased to be joining at this unique time when both of its insurance business lines are poised for significant secular growth. I look forward to working with William, Ken and Alan and the rest of the R&Q team to capitalise on the vast opportunities ahead.”
