Acting chief executive James Watson will revert to his sales director role

Steve Wood, Ecclesiastical

Towergate has hired former Ecclesiastical UK managing director Steve Wood as the new chief executive of Paymentshield.

 Paymentshield, Towergate’s mortgage protection insurance broker, has been run on an interim basis by James Watson since the departure of previous chief executive Gary Duggan in February to head BGL’s Junction division.

 When Wood joins on 16 March, Watson will revert to his old role as Paymentshield’s sales director.

 Wood left Ecclesiastical, a specialist churches and charities insurer, in June 2013 after eight years with the company. Before joining Ecclesiastical, Wood led the management buy-out of the healthcare division of RSA, then Royal & SunAlliance.

 He started his career at RSA predecessor company Royal Insurance.

 Towergate interim chief executive Scott Egan said: “This appointment is further evidence of the pace at which we are moving forward at Towergate. We are continuing to attract talent to the business, which adds to our experienced and capable team.”

 Wood added: “It is an exciting time to be joining Towergate, and I am delighted to be taking on the Paymentshield role. Paymentshield is a great business with lots of potential, and I really look forward to working with the team there to drive the company forward.”