BMS Re splits CEO role in shake up to accelerate next growth phase

Pete Chandler is stepping down as CEO and transitioning to a strategic, client-focused, role as vice chair of BMS Re.

The specialty reinsurance arm of global broker BMS Group has appointed Andrew Wheeler (pictured right) and Russ McGuire (pictured centre) as interim co-CEOs.

Chandler (pictured left), who will remain a director on the US board, has led BMS Re for more than four years, during which the business expanded into the global reinsurance broking space with offices across the US, London, Bermuda, Middle East, Latin America, and Asia.

BMS Re currently employs over 300 professionals providing a suite of capability including treaty, facultative, capital markets and class leading actuarial and analytical expertise.

As vice chair, Chandler will continue to work with key clients, support BMS Re’s brokers in managing valued carrier relationships and work alongside Nick Cook, Group CEO, “to help attract and develop the next generation of leaders of the company”. Cook will now chair the US executive committee.

Wheeler and McGuire will be responsible for the broking teams across the US, executing continued growth strategies and ensuring a smooth leadership transition. Both bring a vast amount of experience with Wheeler having served more than 20 years at BMS Re and McGuire, who joined BMS Re in 2023, following 18 years at Swiss Re.

Chandler said: “Now is the right time for me to step away from the day-to-day CEO role of BMS Re having achieved what we set out to do when I joined the business. I am extremely proud of what we have built, we have grown into a business that we are all incredibly proud of and it has been my enormous privilege to have led it and worked alongside my amazing colleagues. I cannot wait to go back to what I love the most, helping our clients better their businesses and working closely with our fantastic teams across the US and around the world.

“I will be focusing my time on the company’s key clients and working directly with them in assisting with their growth plans, capital requirements and supporting Nick Cook, Group CEO, to put in place the next generation of leaders within this fantastic company.”

Cook said: “The foundations of BMS Re’s success owe an immense amount to the total dedication of Pete who can be hugely proud of all he has achieved. Under his leadership, we saw BMS Re revenues and EBITDA triple as well as the hiring of over 175 new colleagues in the past 4 years. BMS Re is poised for its next stage of growth and investment, and I greatly look forward to 2024.”

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