Specialist broker, Gallagher Re has announced the appointment of Tom Wakefield as the new chief executive officer, subject to regulatory approval.

Wakefield takes over from current CEO Simon Behagg who will transition to the new role of managing director of Gallagher Re.

In his new role, he will have responsibility for leading the expansion of the broker's reinsurance operations and will work closely with Behagg and the wider senior management team to continue to drive the firm’s growth agenda.

Wakefield will report to Simon Matson, CEO and will join Gallagher’s UK executive team.

He joins the business from Aon, where he spent 17 years, most recently as COO for the Global Re Marine, Specialty and Composite business and led the broker’s book of marine composite reinsurance business.

Matson said: “The evolution journey that sits behind Gallagher Re since its inception in 2013 is quite incredible. Since becoming a fully-owned part of Gallagher in 2020, the business has continued to deliver on its aggressive growth trajectory, latterly under Simon’s leadership, and continued to attract a wealth of reinsurance talent, including Tom, on to the team.

“We are delighted to now have Tom step into the role of CEO at a time when Gallagher Re is set to embark on the most exciting chapter yet in the business’ remarkable growth story. However, while the Willis Re transaction progresses through the required regulatory processes, our focus remains on driving forward our existing Gallagher Re business strategy with Tom at the helm.”

Wakefield added: “Gallagher Re’s rise from a start-up challenger brand to a world-class and highly-respected reinsurance broker is something that I have long admired. I am excited to be joining such an innovative and entrepreneurial organisation and look forward to working alongside this hugely talented group of people to drive forward the business’ growth agenda and further expand and enhance our client offering.”