Posted on 25 Mar 2010
J. Powell Brown, President and Chief Executive Officer of Brown & Brown, Inc. on Wednesday announced that Regional President Thomas E. Riley, CPA, CPCU, CMA, CIC, has been named the Company's Chief Acquisitions Officer.
Effective immediately, Mr. Riley will assume responsibility for mergers and acquisitions activity of the Company and its subsidiaries, and for the supervision of the personnel within the Company who work on acquisition matters. Mr. Riley will continue to have regional oversight responsibility for operations in south Florida and the northeastern United States while assuming additional duties in connection with this promotion.
Mr. Brown stated, "While we continue to expect that all of our leaders will continue to play important roles in acquisitions, Tom's promotion to this position enables us to be even more agile and better equipped to identify opportunities for expansion in every area of the country. Tom has been integrally involved with acquisitions for years. In fact, of the 337 acquisition transactions consummated by Brown & Brown affiliates since 1993, he has been personally involved with nearly 25% of them."
Jim W. Henderson, Vice Chairman and Chief Operating Officer, commented, "This action is in line with our stated goal of continuing to maintain the best possible management structure as we grow our organization. Tom has consistently been a leader with respect to acquisitions, and this will afford him the perspective that is essential to the oversight of our activities in this area."
Mr. Riley has been with Brown & Brown since 1990, when he joined the Company as Chief Financial Officer. He has been promoted through several positions over the years and was elected as Regional Executive Vice President in 2001. He was elected Regional President in 2005. As Regional President and Chief Acquisitions Officer, Mr. Riley will continue to be responsible for his current regional operations but will enhance his responsibilities through an expanded role in growing the Company's overall operations. Mr. Riley is a Certified Public Accountant (CPA) and has earned the Chartered Property Casualty Underwriter (CPCU), Certified Management Accountant (CMA), and Certified Insurance Counselor (CIC) designations. He is a member of various regional and national insurance carriers' advisory councils as well as the American Institute of Certified Public Accountants and the Florida Institute of Certified Public Accountants.
Brown & Brown, Inc. and its subsidiaries offer a broad range of insurance and reinsurance products and services, as well as risk management, third-party administration, managed health care, and Medicare set-aside services and programs. Providing service to business, public entity, individual, trade and professional association clients nationwide, the Company is ranked by Business Insurance magazine as the United States' sixth largest independent insurance intermediary. The Company's Web address is www.bbinsurance.com.