Stuart Reid leaves Arthur J. Gallagher

Following Stuart Reid's departure a statement from an Arthur J. Gallagher spokesman confirmed:

"Michael Rea will lead the UK Retail business as Chief Executive, having been the CF3 Approved Person since June 2016 when he took over this position from Tom Gallagher. Having excelled in both commercial and operational leadership roles within several large retail broking operations, Michael is the ideal person to drive forward the growth strategy for this important part of our organisation. He will remain Chief Operating Officer for our International Brokerage Division, leading our integration and operational change agenda, much of which falls naturally within our UK Retail business. We will be recruiting a senior operations director to take over some of Michael's operational responsibilities going forward.

"We are sorry to see Stuart Reid go and would like to thank him for his energy, his counsel and for the valuable contribution he has made to the business as a member of the IB Executive Committee and wish him all the very best for the future."

Grahame Chilton, CEO International, Arthur J. Gallagher, said: "We have a fantastic UK Retail business made up of a franchise of regional branches that are committed to delivering great customer outcomes. During the time that Stuart has been working with the team, we have reorganised the business more directly around our core groups of customers and seen both organic growth and improved profitability. As Chief Executive of UK Retail, Michael brings important continuity to our regional network and management team, along with the strong leadership we need to take our UK Retail business into its next phase of strategic growth."