Draycott Named CEO of Ed Broking in Preparation for BGC Partners’ Purchase

December 10, 2018

Ed, the global reinsurance, wholesale and specialty broker, today announced the appointment of Andrew Draycott as CEO-designate of Ed Broking in London. His appointment is subject to regulatory approvals and he will take up his role once the acquisition of Ed Broking Group by BGC Partners Inc. is completed.

On completion of the acquisition, which was announced in October 2018, Ed will become part of BGC’s new insurance division. Steve Hearn, currently group CEO of Ed Broking, will become head of BGC’s insurance division.

Draycott brings nearly three decades of industry experience to the role and has been an integral member of the executive team since Ed’s launch in 2016, said Ed in a statement.

He is currently global head of Sales and Retention and prior to this he was the CEO of Ed’s Energy, Marine and Construction Division. Draycott began his career in 1990 as an energy broker before becoming the managing director of Newman Martin and Buchan’s Energy Division.

“The insurance landscape is developing from a number of perspectives. It is an excellent time to be a high-quality independent broker with the financial backing to power growth and technological development,” commented Draycott.

“Ed has come a long way in just over two years, the strength and relevance of our disruptive approach has never been greater, and I am proud to be leading our London business at a time of such historic opportunity,” he added.

“At the time we announced Ed’s acquisition it was clear that my role would change, and that I’d take responsibility for leading BGC’s wider insurance industry efforts,” said Hearn. “I am therefore delighted that Andrew has agreed to take on the leadership of Ed Broking’s London operations and have every confidence that the business, to which I have an obvious and passionate connection, is in great hands and has a bright future.”

Source: Ed Broking Group

Related:

UK’s Ed Broking to Be Acquired by BGC Partners

Topics Mergers & Acquisitions London

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