The broker has a target to double its premium from £50m to £100m over the next five years
JM Glendinning has promoted Jake Fox to managing director - he will be responsible for the group’s eight insurance broking businesses.
Fox was previously managing director of JM Glendinning’s professional risks business. He brings more than 20 years of insurance industry experience to his new position.
In his new role, Fox will be responsible for the eight JM Glendinning businesses based in Yorkshire, the north east, north west and the Midlands, alongside continuing to influence the running of the professional risks business.
Fox succeeds Nick Houghton, who has moved to become chief executive of the JMG Group, which was formed after a management buyout in 2020.
Houghton said: “Fox is an exceptional business leader and the natural choice to become managing director of the JM Glendinning business. He built up [the] professional risks [business] from a standing start to what is now - the most successful division in our group.
“I have always said that the success of this business is down to finding brilliant people and building businesses around them and Fox is the perfect case in point.
”Anyone who has ever met Fox will agree that he is the consummate professional who is an absolute pleasure to work with.”
Doubling premium income
Fox initially joined JM Glendinning in 2015 as a professional indemnity insurance specialist - he aimed to provide a high level of service to legal firms across the UK.
Fox said: “JM Glendinning is a progressive and ambitious business and I am very pleased to have this opportunity to move it further forwards in this phase of accelerated growth.
“As managing director of JM Glendinning, I will be working closely with the leaders of our eight businesses to support their aspirations through organic and acquisitive growth and quality recruitment, to ensure we achieve our target of doubling our premium income from £50m to £100m over the next five years.
“We have a fantastic team and will be doing it the right way, with smiles on our faces.”