UK retail boss says he will look at building his team from the Gallagher talent pool
Stuart Reid has revealed the early battleplan for his £300m brokerage business.
The Arthur J Gallagher UK retail chief executive revealed that his top priorities will be ramping up sales and completing the UK integration of acquired brokers such as Giles and Oval.
The Gallagher UK retail arm is three times the size of Bluefin, where Reid was previously chairman and before that chief executive.
Asked about the pressure to perform for the Chicago-based broker, Reid said: “Gallagher has a fearsome reputation and rightly so. It is good in many, many areas.
“The two main challenges are getting the integration right and the sales area, and both need attention.”
Reid also revealed he would:
- Ensure Gallagher remains strong and continues to improve its specialisms
- Work on product opportunities such as trade credit and cyber
- Complete the switchover to commercial quote engine Acturis, which is ‘two thirds’ of the way there
- Eyeing acquisition opportunities when the time is right, even if it is not currently a top priority
- Running yearly staff satisfaction surveys, as well as a client satisfaction survey
Asked about building his team, Reid said that there was plenty of talent in Gallagher for him to pick from.
He reserved particular praise for UK retail chief operating officer Phil Branch and finance chief Kay Smith. He said both had been ‘absolutely brilliant’ since he arrived earlier this month.
“That is not to negate the team that is with them, but I have had more induction with them and they have done a fantastic job,” Reid said.
Reid said under his stewardship, Gallagher would continue to be a “place where people want to work, not just in London but across the country.”
Gallagher received a section 166 order from the FCA earlier this year.
It means KPMG has been examining Gallagher International’s risk and control framework.
The FCA has also conducted a wide ranging probe into conflicts of interest across the UK insurance industry.
Questioned about the FCA and ensuring Gallagher’s compliance remains robust, Reid said: “Anything to do with the FCA is a private matter. The FCA are doing their job and we engage with them.”