PIB Group has announced the appointments of Tim Brooke and Adrian Colosso as independent Non-Executive Directors. Tim Brooke will also act as Chairman (subject to regulatory approval) for all Group regulated businesses (except Citynet) and the Group’s Audit, Risk & Compliance Committee.
Since its formation in 2015, PIB has experienced rapid organic and acquisitive growth as part of its five-year strategy, focussing on specialist insurance market expertise, strong personal relationships and client service excellence.
The hiring of two Non-Executive Directors reflects the next stage of PIB’s ‘growing up story’ now that it has achieved critical mass, according to CEO Brendan McManus. Both Brooke and Colosso join the Group as it enters the next phase of its strategic journey.
In his dual role, Brooke will chair the Audit, Risk and Compliance Committee to oversee the enhancement of governance arrangements while also overseeing the delivery of the Group’s strategic aims. He brings significant financial services and professional services experience gained through several board appointments such as Board Chair as well as an Independent Non-Executive Director. His executive experience includes roles with The Chase Manhattan Bank, JPMorgan Chase & Co and as a partner with PriceWaterhouseCoopers.
Brooke commented: “PIB has created a clever and game-changing proposition in the broking space. I’ve followed their story from conception through to its position today - the journey is quite remarkable and continues at a pace. I’m looking forward to playing my part in creating a leading player in the industry that other businesses look upon with respect and admiration.”
Colosso was one of the founding partners and CEO of Lloyds Brokers “Crowley Colosso”, and has also held a number of senior executive positions including Group CEO of Heath Lambert Group, UK Retail CEO for AJG and CEO of Howden.
Colosso commented: “I am delighted to be joining a great group of like-minded professionals who are committed to delivering for their people, clients and shareholders alike. PIB takes a unique approach in recognising and calling upon a wealth of collective experience in order to build an exceptional group in the right fashion. I can’t wait to get going.”
Brendan McManus, CEO of PIB, commented: “I’m very pleased to have Tim and Adrian onboard. Their broad financial services experience will bring another dimension to the wider leadership team’s intellectual capital and innovation. Together they will see our business through a new lens and we welcome their fresh perspective, wisdom and external challenge to continue driving PIB forward.”
Three years into the Group’s history, McManus says that the success of PIB has been down to thorough planning and ensuring that investments are paying off. And 2018 looks set to be another busy year.
McManus continued: “During 2018 I think we’re going to achieve the plan that was written in 2015 and presented to our investors – we have plenty to look forward to including several acquisitions and other activities in the pipeline. But I’m also looking forward to planning the next ten years and working through what we need to do as a business to ensure we stay independent, remain attractive to investors and remain attractive to great people in the insurance industry who want to come and work here.”