R&Q’s co-founder Ken Randall is set to step down from his role as group executive chairman in the next 12 months after 29 years.
As part of R&Q’s management succession plan, William Spiegel has been appointed executive director and deputy group chairman with immediate effect. He will then take on the role of executive group chairman when Randall steps down.
Based in New York, Spiegel will report to Randall and focus on the strategic development and expansion of the group as it builds on its recent outstanding financial performance in the thriving legacy and rapidly growing programme management businesses in the US and Europe.
Spiegel has 30 years of private equity experience and has been a leading financial services growth investor since 2001. Prior to joining R&Q, he worked at Pine Brook where he was co-founded in 2006 and was a managing partner.
He has also worked at the Cypress Group and in the Merchant Banking Group at Lehman Brothers.
Randall said: “I am delighted to welcome an industry professional of William Spiegel’s calibre to the senior leadership team at R&Q. I have known Spiegel and followed his career for many years and I know R&Q will hugely benefit from his expertise in managing and growing leading insurance businesses.”
“The business is in good shape, delivering record profitable growth and progressing with our objective of becoming the leading provider of legacy and programme management solutions. But there is so much more to be achieved and now is the right time for me to start handing over the reins to R&Q's future leadership.”
He added: “I look forward to working with Spiegel and the team over the course of 2020 as the transition takes place.”
Spiegel said: “It is a huge honour to be given this opportunity and I am looking forward to applying my 30 years of experience to R&Q. I have built my career on growing financial services companies in the US and the UK with a particular emphasis on insurance and insurance services.”
He continued: “Under Ken Randall and Alan Quilter’s leadership R&Q has undergone a significant transformation in the last few years and it has focussed on two of the fastest growing and most interesting areas of insurance. It will be my priority to continue to deliver profitable growth and build on R&Q’s tremendous success.”
