A.M. Best restructuring leadership
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Roger Sellek, chief executive officer of ratings agency A.M. Best Co. Inc.’s Europe, Middle East, Africa and Asia Pacific operations since 2007, will step down by March 31, the ratings agency said as part of a restructuring plan announced Monday.
Oldwick, New Jersey-based Larry Mayewski, currently chief executive officer and chairman of A.M. Best Ratings Services in the United States, will take up the role of chief executive officer of A.M. Best’s European rating subsidiaries in London and Amsterdam, A.M. Best said in a statement.
Matthew Mosher, existing executive vice president and chief operating officer of A.M. Best Rating Services, will become chief executive officer of A.M. Best’s Asia Pacific subsidiaries in Hong Kong and Singapore, pending regulatory approval, and will continue to report to Mr. Mayewski, the statement said. He is based in Oldwick, New Jersey.
The restructuring will allow A.M. Best to continue to grow in core markets, while responding to the rising costs of local regulation in many territories, according to the statement.
A.M. Best said it has also restructured its market development team, strengthening its rating analytics division, to bring costs in line with regional growth potential.
As a result, Greg Carter, managing director of rating analytics, EMEA & AP, will relocate to Asia to provide analytical leadership in the region while retaining his key responsibilities in London and at A.M. Best’s new Amsterdam office, which serves EU clients.
Jose Ribeiro, current managing director Asia-Pacific, will be leaving A.M. Best., according to the statement.
Meanwhile, Nick Charteris-Black, managing director, market development EMEA, will chair a new global market development forum, based in London.
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