Tom Wakefield, previously of Aon, has been announced as the new Chief Executive Officer (CEO) of Gallagher Re, the reinsurance arm of the global brokerage, subject to regulatory approval.
Wakefield takes over as CEO of the reinsurance broker from Simon Behagg, who will transition to the role of Managing Director of Gallagher Re.
He joins the company after 17 years with global broker Aon, where he most recently served as COO for the Global Re Marine, Specialty and Composite operation and led the firm’s book of marine composite reinsurance business.
In his new role as CEO of Gallagher Re, Wakefield takes on responsibility for leading the continued expansion of the company’s reinsurance operations and will work closely with Behagg and the broader senior management team to drive growth.
Wakefield is set to join the Gallagher UK Executive Team, and will report to Simon Matson, CEO of Gallagher’s broking and underwriting businesses in Europe, Middle East & Asia.
“The evolution journey that sits behind Gallagher Re since its inception in 2013 is quite incredible. Since becoming a fully-owned part of Gallagher in 2020, the business has continued to deliver on its aggressive growth trajectory, latterly under Simon’s leadership, and continued to attract a wealth of reinsurance talent, including Tom, on to the team,” said Matson.
“We are delighted to now have Tom step into the role of CEO at a time when Gallagher Re is set to embark on the most exciting chapter yet in the business’ remarkable growth story. However, while the Willis Re transaction progresses through the required regulatory processes, our focus remains on driving forward our existing Gallagher Re business strategy with Tom at the helm,” he added.
Commenting on his new position, Wakefield said: “Gallagher Re’s rise from a start-up challenger brand to a world-class and highly-respected reinsurance broker is something that I have long admired. I am excited to be joining such an innovative and entrepreneurial organisation and look forward to working alongside this hugely talented group of people to drive forward the business’ growth agenda and further expand and enhance our client offering.”