Kevin Conboy will become Chicago-based brokerage Acordia Inc.’s new president and CEO March 1.
Conboy has been with Acordia, a Wells Fargo & Co. subsidiary, for 17 years and has been chief operating officer since June 2002. He will take over for Frank Witthun, CEO since 1994, who will become non-executive chair.
Both will report to David Zuercher, group head of international and insurance services at Wells Fargo and Acordia’s board chair.
Under Conboy, Acordia will continue to focus primarily on acquisition, internal growth and integrating Acordia’s products and services into Wells Fargo’s commercial banking and commercial real estate programs.
Acordia was acquired by Wells Fargo in 2001 and is the largest bank-owned broker in the United States.