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.
Ed said in a statement that he brought Draycott into the role of nearly thirty years of industry experience and that Ed is an integral member of the executive team since its launch in 2016.
He is currently director of global sales and custody, and prior to that he is CEO of Ed’s Energy, Marine and Construction Division. Draycott began his career as an energy broker in 1990 to become general manager of the Energy Division of Newman Martin and Buchan.
Iyor The insurance area is evolving from a range of perspectives. “The perfect time to become a high quality independent broker with financial support to grow and technological development.”
“Ed has come a long way in more than two years, the power and appropriateness of our destructive approach has never been so great, and I am proud to commend London on such a historic opportunity,” he added.
. When we announced the acquisition of Ed, Hearn made it clear that my role would change and that I would take responsibility for BGC’s wider insurance industry efforts, H Hearn said. ”So Andrew agreed to take over the leadership of Ed Broking’s London operations, and he has every confidence that the work I have a clear and passionate connection has in great hands and a bright future.“
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