Cobbs Allen hires former JLT US CRO Payne to build broking business
US-based enterprise risk management agency Cobbs Allen has hired former JLT US chief revenue officer (CRO) David Payne as part of plans to expand its insurance brokerage business.
The agency, which specialises in supporting niche practice groups and is headquartered in Birmingham, Alabama, appointed Payne to help build a national specialty platform as part of the firm’s leadership team. The platform will provide complex risk solutions for corporate and private equity clients.
Payne most recently served as CRO at JLT US, where he led client and prospect initiatives. He has a long track record of leading growth strategies in the US brokerage sector including previously serving as the leader of Aon’s US risk sales platform.
Paul Sparks, who joined Cobbs Allen’s leadership team in late July, said: “David’s appointment to this position is incredibly exciting. David is an industry leader and has a proven background in building businesses, attracting talent, and delivering solutions for his clients. Due to his leadership, expertise, and ability to effectively solve client problems, I know David will be a true asset to the company and our clients.”
Payne said: “A new and innovative platform unconstrained by bureaucracy is best positioned to deliver solutions that serve our clients’ best interests. I look forward to bringing our talent and innovation to the market and remain committed to finding ways to make a positive impact for our clients.”
Bruce Denson, president of Cobbs Allen, added: “David will focus on building out our specialty solutions for clients and prospects on a national basis. His skills in M&A, Special Situations, Director & Officer Liability, and Financial Institutions, demonstrate our commitment to lead from the front.
“We are excited to be the broker of choice for the best talent in the industry.”
The new venture will combine structured solutions capabilities with insurance brokerage services to offer more alternatives using risk-taking capacity from both the insurance and private capital markets.
Cobbs Allen said the new company will be private and majority-controlled by employees to avoid the short-term pressures associated with being controlled by outside investors.
The company said it planned to announce more leadership hires soon along with more information about the platform.
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