July 04, 2018
Former Pioneer CEO and founder Darren Doherty is to join Hyperion’s underwriting arm, Dual, as vice chairman and commercial director.
Doherty, who left Pioneer in February after seven years at the company, will also serve as chairman of Dual’s US operations. He will join the firm on 1 September.
Hyperion said that Doherty’s hire is subject to regulatory approval and discharge of his duties to Pioneer.
Doherty founded Pioneer in 2011 having spent the previous 12 years at its sister company BMS Group, most recently as managing director of direct and facultative business.
In addition to Doherty’s appointment, Dual also announced a number of leadership changes which it said “strongly positions them for further growth both in the UK and internationally.”
David Ibeson, CEO of Apollo and non-executive director of Dual, will replace Clem Booth as Dual chairman effective 1 October 2018.
Dual said that the move will enable Booth to focus on his role in Hyperion including becoming chairman of its remuneration committee from 1 July.
Meanwhile, Richard Clapham has been named as Dual’s group chief executive, also effective 1 October, a role which he will carry out in addition to his current responsibilities as group CUO and CEO of UK and Europe.
Hyperion CEO David Howden remarked: "Dual’s success has always been about the quality of its people and so it’s fantastic that Darren has chosen to join us, and that David has agreed to be Dual’s chairman. Their commitment and confidence in Dual is clear evidence of the strength of the business and its potential.
“Darren’s extensive experience and energy will bring additional drive to Dual’s expansion plans both in the UK and internationally. And I am confident that David’s insight and experience will be invaluable as he leads Dual through its next stage of growth. "
Howden added: "I've really enjoyed working with Richard over the last few years and there is no one better positioned to take on this global role.”
Ibeson said: "Over the last two years on the Dual board, I have seen the business go from strength to strength through key leadership team appointments and significant investment in the operating model. Darren and Richard’s impressive collective experience combined with that of the existing team greatly enhances Dual’s greatest asset: our ability to deliver fast, competitive and cost-effective distribution.”