Hub Announces New Roles for Key Execs

Chicago-based brokerage Hub International Ltd. announced that several of its senior managers have taken on new responsibilities in a redeployment aimed at accelerated growth.

Martin P. Hughes, Hub’s chairman and CEO, said the changes are part of an ongoing effort to adapt corporate management approaches to the rapidly increasing size of the insurance broker’s operations. In the four years ended Dec. 31, 2002, Hub posted a 54 percent compounded growth rate for revenues, as a result of both internal growth and an active acquisition program. Through the first nine months of 2003, revenue grew at a 33 percent rate in comparison to the prior year.

Richard Gulliver, president, will assume ultimate leadership of the company’s acquisition program, a core component of Hub’s growth strategy. In this effort, he will work with Michael Sabanos, Hub’s director of mergers and acquisitions, and will be dedicating 100 percent of his time to his new role.

Bruce Guthart will be leaving his position as president of Hub’s Kaye Group, based in New York, and in addition to his position as Hub’s president of U.S. operations, will take on the chief operating officer position from Gulliver, enabling Gulliver to focus exclusively on acquisitions. Craig Barton will remain president of Canadian operations, reporting to Bruce Guthart, and continue in his role as president of Barton Insurance.

Larry Lineker, president of Hub’s TOS Insurance Services Ltd. subsidiary in Vancouver, will assume the newly created role of chief sales officer, with responsibility for directing Hub’s overall sales initiative, a core component of the company’s growth plan.