Carol Adamson has joined Nigel Wood to help grow book to £1m commission business in four years
JM Glendinning has completed the initial line-up it needs to launch its new corporate business with a second hire from Arthur J Gallagher, following the appointment of Nigel Wood in August.
Carol Adamson has been hired as an account handler and will join Wood the new corporate business’s managing director.
JM Glendinning announced in August it had hired Wood who had worked for Gallagher [Heath] for 23 years and for companies it eventually acquired - most recently as a regional director.
The Leeds headquartered broker already has a number of corporate clients, and managing director Nick Houghton said setting up a formal corporate practice would help it grow quicker.
The broker loosely defines corporate clients as those with a turnover in the tens of millions or a complex risk profile.
Houghton added: “I am absolutely delighted they have both chosen to join our business. It is great for the clients because it provides continuity for the clients.
“It stitches together our group proposition and allows us to punch above our weight. We are well connected. We just needed the right team to go out there and win the business.”
The £16m premium broker wants to grow the corporate practice from a £200,000 commission income business to £1m over the next four years.
Houghton said: “We will do that by going out and winning clients and growing our own to teach them in a way that they will be successful in corporate insurance sales.”
As part of the move, JM Glendinning also reached an agreement with Gallagher to enable Wood to take a number of his clients with him.
Houghton added: “We did not take everything. Some of the clients are better suited in the Gallagher world, but it was recognition of how strong the relationship is with Nigel and his clients and how long it has been like that. I am not into breaching covenants.”