Nexus shuffles leadership; hires former Howden CEO

Specialist independent managing general agent (MGA) Nexus Underwriting Management has shuffled its leadership in a bid to support its growth plans.

Colin Thompson, one of the firm’s founders and currently chief executive officer (CEO) of the firm, will take the new position of executive chairman.

Thompson will lead the strategy and direction of the group going forward with a particular focus on mergers and acquisitions (M&A) within the MGA arena.

Tim Coles succeeds him as CEO. He joins from Howden, where he also served as CEO.

Additionally, Jo Edgley has also been promoted to the new position of managing director of Nexus Underwriting and Alex Mobbs will be seconded to the newly acquired specialist MGA EBA Insurance Services (EBA) as an executive director.

In her new role, Edgley assumes responsibility for the professional indemnity, directors and officers'liability insurance, financial Institutions and accident and health divisions.

Mobbs will assist both EBA and Nexus in maximising commercial leverage across their respective distribution platforms enhancing value for all parties.

Ian Whistondale has also stepped down as non executive chairman of Nexus, but will remain a non-executive director.
Thompson said: “Going forward, the vision shared by myself and the rest of the board of Nexus is that, within 36 months, we can build Nexus into an MGA underwriting in excess of $250 million of profitable specialty business.

“This will be achieved partly by organic growth and the recruitment of new teams but also via the acquisition of other MGAs, some of which we are already in discussions with.

“With this corporate goal it is vital that we have the infrastructure and management team in place to support that plan, and Tim's business acumen and unique industry experience together with his leadership and motivational skills will be essential us to achieving the next level,” he said.