Brown & Brown has appointed Thomas Riley, regional president, CPA, CPCU, CMA, CIC, as the new chief acquisitions officer. In this role, he will be responsibile for mergers and acquisitions activity of the company and its subsidiaries, and for supervision of personnel within the company who work on acquisition matters.
Mr Riley will continue to have regional oversight responsibility for operations in south Florida and the northeastern US while assuming additional duties in connection with this promotion. As regional president and chief acquisitions officer, he will also now enhance his responsibilities through an expanded role in growing the company’s overall operations.
Mr Riley has been with Brown & Brown since 1990, when he joined the company as chief financial officer. He has been promoted through several positions over the years and was elected as regional executive vice president in 2001. He was elected regional president in 2005.
Powell Brown, president and CEO of Brown & Brown, said: “While we continue to expect that all of our leaders will continue to play important roles in acquisitions, Tom’s promotion to this position enables us to be even more agile and better equipped to identify opportunities for expansion in every area of the country.
“In fact, of the 337 acquisition transactions consummated by Brown & Brown affiliates since 1993, he has been personally involved with nearly 25% of them.”
Jim Henderson, vice chairman and chief operating officer of Brown & Brown, said: “This action is in line with our stated goal of continuing to maintain the best possible management structure as we grow our organization. Tom has consistently been a leader with respect to acquisitions, and this will afford him the perspective that is essential to the oversight of our activities in this area.”