Towergate COO resigns; AJG exec replaces
The chief operating officer (COO) of Towergate, Michael Rea, has stepped down amid a restructuring of the firm.
Mark Mugge, who joins from Arthur J Gallagher (AJG) where he served as chief financial officer of AJG International, will replace him as COO.
Three other AJG executives have defected to Towergate this month with David Ross, the head of AJG International, leaving the company to serve as chief executive officer (CEO) of Towergate. Janice Deakin and Adrian Brown also departed.
Marc Vassanelli will serve as interim chief financial officer (CFO). Most recently, he was engaged by Carlyle and TowerBrook to advise on potential acquisitions of business services technology companies. He previously served as CFO of the Marsh EMEA region of Marsh & McLennan Companies (MMC).
John Kitson will work alongside the team to support marketing and communications. He spent 14 years at Aviva, with his last role as sales and marketing director UK general insurance, holding an executive board position for both Aviva UK General Insurance and RAC.
Scott Egan, the interim CEO, said: “I am delighted to have been able to complete our new executive team quickly and to such good effect. These new appointments will work alongside the following existing members of the team: Clive Nathan – CEO underwriting, Mike Lawton – CEO broking, James Tugendhat – CEO direct, Carole Jones - director of human resources, and Keith Jackson - chief risk officer.
“This news today demonstrates Towergate’s ability to attract strong talented individuals excited by the potential of our market position and competitive strength, building on firm financial foundations.”
