New hire will support expansion plans

HPS-backed hire

HPS-backed Price Forbes has hired Stephen Reid as its chief operating officer.

Reid joins Price Forbes from Howden UK Group where he was chief operating officer.

He has also held similar senior roles with Cooper Gay, Lockton and Marsh.

In his new role at Price Forbes, he will join the senior management team, and take overall management responsibility for both the corporate and divisional operations teams.

Price Forbes chief executive Michael Donegan said: “We are delighted to welcome Stephen to Price Forbes.

“He is exceptionally well qualified for the position and brings a wealth of industry experience with him which will greatly assist us in achieving our ambitious growth plans over the months and years ahead.”

Towergate owner HPS acquired a majority stake in Price Forbes in September 2015.

Donegan said the investment would help to accelerate the broker’s growth plans.