AJG International CFO steps down

Mark Mugge, the chief financial officer (CFO) of broker Arthur J Gallagher (AJG) International, has resigned.

Mugge joined AJG in 2006 as the corporate controller where he was responsible for global financial processes and systems. In 2011, he was promoted to CFO of International Brokerage which is based in London.

Prior to joining AJG he held senior financial roles with AmerUS Group Co, GuideOne Insurance, and Grinnell Mutual Reinsurance Company.

“We can confirm that Mark Mugge, international CFO for Arthur J Gallagher, has resigned. Mark remains with us in the short term and is working with the executive committee to ensure the smooth handover of his areas of responsibility. We expect to be in a position to announce a new interim CFO and structure shortly,” said a spokesperson for the broker.

Ian Story will succeed Mugge as interim CFO and will work alongside the AJG International Executive Committee until a permanent CFO is found. He has held finance director positions at Smart & Cook, Bluefin Insurance Broking and latterly The Oval Group, which was acquired by AJG in 2014.

Reporting to the division’s chief executive officer, David Ross, Story will assume responsibility for strategic financial planning and forecasting, and will oversee all operational finance functions, including general accounting and regulatory capital reporting.

Ross said: "Ian has a strong track record as a finance leader, which I experienced, first-hand, during the Oval acquisition last year. At every step of the process he demonstrated strategic foresight, logic and rigour and will provide the expertise we need to conclude on the final elements of our integration programme and accelerate profitable, organic growth across our International operations."