RFIB Holdings Limited (“RFIB or the Group”), the international Lloyd’s insurance and reinsurance broker, announced in December 2008, that Patrick Holcroft wished to step down from the role of CEO once a successor had been identified and was in post. Today, RFIB announces the appointment of Marshall King as Chief Executive Officer, with effect from 7th September 2009, subject to Regulatory Approval.
Marshall King gained a First Class Honours degree from Dublin University and an MBA from INSEAD. His early career spanned management consulting (Bain and Company) and business information (Dun and Bradstreet). More recently, he was founder and CEO of Improveline, a private equity backed insurance claims management business. It was acquired in 2005 by Homeserve plc, a FTSE 250 company, where Marshall occupied a number of senior management roles. He also represented Ireland at sailing in the Olympic Games in Atlanta in 1996.
Lord Hodgson of Astley Abbotts, Chairman of RFIB, commented: “RFIB has made significant progress over recent years and Marshall’s appointment is the next stage in the Group’s development. We have an excellent operational team at RFIB and I am confident that Marshall’s strong track record of business development combined with his leadership skills will reinforce our existing strong base.”
“At the same time, it is excellent news that Patrick, whose commitment over the past eighteen years has helped transform RFIB into a leading Lloyd’s broker, has agreed to remain on the Board as Deputy Chairman.”
Patrick Holcroft, RFIB Group Chief Executive Officer, commented: “Marshall has emerged as the outstanding candidate for the role, following an exhaustive national and international search. He brings with him a wealth of business development management and insurance experience and we are delighted to welcome him to the team. From a personal perspective, it has been a privilege to have led RFIB from modest beginnings to its current size and shape and to hand it over in good order, with excellent prospects. I am sure it will go from strength to strength under Marshall’s leadership.”
Marshall King commented: “I am excited by the challenge of being part of a vibrant company and am looking forward to taking the Group through the next stage of its evolution. It is my intention to build on RFIB’s successful business strategy continuing to attract talented teams and individuals as part of our future growth story.”