New THB group chief executive sets out company's vision.

Frank Murphy, the newly appointed group chief executive of THB, plans to visit the company’s 10 worldwide offices within the next year.

Murphy, currently chief executive of THB’s Lloyd’s broking operation, Thompson Heath & Bond, will succeed Vic Thompson, who stepped down last week.

THB said Thompson would remain the largest shareholder in the company.

Last month THB secured a £7.5m cash investment from three private investors.

The move followed the January acquisition of PWS, a Lloyd’s broker, which has a global network of offices in locations including Asia and South America.

Murphy said he planned to look for growth in emerging markets as well as adding teams to THB’s Lloyd’s and international operations.

“With some of the mergers of the larger brokers recently, we see some opportunities with disaffected quality teams around the world,” he said.

Murphy, who will continue to head the Lloyd’s broking business, said he was looking forward to leading the team. “I see my role in driving our strategy and vision.”

Clive Williams, the group’s non-executive chairman, is also stepping down. He will be succeeded by Nigel Moorhouse, the senior non-executive director.

Moorhouse said: “We are all extremely grateful to Vic for building THB into a successful and well regarded business and to Clive Williams, who has made an excellent contribution as chairman since he accepted the role in 2005.

“I have every confidence that Frank Murphy and his team will build on this legacy.”