The senior management team of leading independent captive management firm USA Risk Group has completed a management buyout from Spencer Capital Holdings.
The buyout includes operations from all captive domiciles that USA RISK currently operates in.
The existing management will remain in place to manage all current and new clients.
Paul Macey, a captive industry veteran with more than 35 years’ experience, will lead the new senior management team as president.
The new senior management team includes Rob Leadbetter, senior vice president; Charmain Aggarwal, vice president; Jeanne Crawford, senior vice president of the company’s Barbados office; John Tortell as general manager of the Malta office; and Steven Lill as assistant vice president in the Cayman Islands office.
The company will keep its name and initially operate in 10 domestic and international domestic captive domiciles.
Global investment firm Spencer Capital originally acquired USA Risk in 2015.
Macey stated that despite the deal, the focus would continue to be on “client’s needs first”.
He added: “My colleagues and I have been working together for many years and we’re excited
to continue knowing our clients well and helping them achieve their business goals with their captives.”
Leadbetter said the buyout represented a “new chapter” for the company, but added that it was also “business as usual”.
He noted: “It was important to have our entire management team and employees onboard to show not only our credibility and commitment to our clients and the success of their captives but our dedication to each other and the next chapter in USA Risk Group’s story.”
“We’re also appreciative that our former chairman and original founder, Lincoln Miller, will be involved in an advisory role.”
Crawford commented: “Clients can continue to expect and receive our commitment to manage their captives with our extensive knowledge and experience.”
“Our diverse book of captive business demonstrates our experience and understanding of the captive industry and we are looking forward to continuing to provide thought leadership in the captive space.”
