NEW YORK—Mark E. Freitas, president and chief operating officer of Frank Crystal & Co., has left the New York-based insurance brokerage amid a management reshuffling.
In an Oct. 30 statement on the broker’s Web site, Chairman and Chief Executive Officer James W. Crystal said a new executive committee has been established to manage its day-to-day operations and guide long-term strategy.
The committee consists of a group of leaders from Frank Crystal’s key business practices, it said. It includes Jamie Crystal, Jonathan H.F. Crystal, Sandy Crystal, Edward Kiessling, John C. Smith and Rick Strater. The business leaders report directly to James Crystal, who is leading the committee.
The statement did not mention Mr. Freitas, but in a letter sent to Frank Crystal employees last week announcing the changes, Mr. Crystal said the brokerage had “eliminated the position of president and chief operating officer. Accordingly, Mark Freitas has left the company.”
A spokeswoman for Frank Crystal would confirm only that Mr. Freitas has left the firm.
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