1 July 2015 Insurance

Hyperion CFO departs; hires Towergate exec

The chief financial officer (CFO) of re/insurance intermediary Hyperion Insurance Group, Eric Fady, is set to step down.

Fady will leave the company on July 31, to pursue new challenges. Oliver Corbett, who currently serves as interim CFO at Towergate, will succeed him.

Before serving at Towergate, Corbett held the position of CFO at Lloyd’s insurer Novae for nine years.

David Howden, Hyperion chief executive officer, said: “I am delighted to welcome Oliver to the Group and look forward to working closely with him as we take Hyperion to its next stage of development.

“His market background with a listed insurer, and more generally with entrepreneurial and international businesses, makes him exceptionally well equipped to play an important part in the group’s future, which will be shaped by strong organic growth, continuing to attract the industry’s best talent, and our selective acquisition strategy.”

Corbett added: “This is a great time to be joining Hyperion. It is a very successful, high-growth business which has transformed in the last few years to become one of the major players, and I am excited to be a part of its next chapter.”

On Fady’s departure, Howden said: “It has been an absolute pleasure working with Eric over the past seven years. He has been instrumental in the development of the business from a £50 million company to the world’s largest employee-owned insurance group, with a projected revenue of £400m this year. He leaves with my personal thanks for his great contribution and the best wishes of myself and the board for his next challenge.”

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