Network reacts to managing director’s resignation

Nick Houghton, Broker Networ

Broker Network and Countrywide managing director Nick Houghton is joining Leeds broker JM Glendinning, Insurance Times understands.

Houghton will take charge of the ambitious £12m gross written premium West Yorkshire broker, which has been a member of The Broker Network since 2003.

Last year, JM Glendinning managing director Paul Glendinning - who will assist Houghton in a new role - revealed plans to open 10 offices in 10 years and grow GWP to more than £20m in five years.

Insurance Times reported Houghton’s resignation on Friday. Towergate said Houghton’s intention had been to return to broking and run an independent broker.

Yesterday, Towergate network division chief executive Tim Johnson sent an email to its 700 members to reassure them it was “business as usual” despite Houghton’s exit. “We remain committed to the plans stated in the (member) agenda,” he said.

One network member told Insurance Times: “It’s a real shame losing Nick, he did a good job with the tools that he was given. The network has some big boots to fill.”

Houghton could not be reached for comment. Glendinning could not comment at the time of going to press.