Sales and marketing director departs after 10 years

Towergate has confirmed that James McCaffrey, sales and marketing director of Towergate Underwriting, is leaving the business after 10 years.

McCaffrey is the latest in a string of high-profile departures from the consolidator.

Last week it lost Paul Williams to Brightside. Williams has been with Towergate for almost 10 years and was responsible for all insurer relationships across the retail broking business.

And in September sales and service head Simon Trott resigned for a job at RK Harrison.

Last week Towergate revealed earnings before interest, tax, depreciation and amortisation (EBITDA) had dropped 3% to £116m in the first nine months of the year.

Towergate Underwriting’s EBITDA dropped 5% to £30m in the same period.

A Towergate spokeswoman said: “We can confirm James McCaffrey is leaving the business.”

Speaking to Insurance Times last week, Towergate chief executive Mark Hodges said the departures were not disruptive.

“Although when you add the numbers up it might look like a lot, in individual teams and businesses there is a good mix of consistency and new talent that is able to freshen things up,” he said.