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Former Aon UK CEO Dennis Mahoney has been named to the newly created position of executive chairman of Lloyd's of London broker RFIB Holdings Ltd.
His appointment came on the heels of San Francisco-based private equity firm Calera Capital's acquisition of a majority stake in London-based RFIB.
Terms of the transaction were not disclosed.
RFIB management and employees, overseen by London-based CEO Jonathan Turnbull, will keep a significant equity stake in the business. In the transaction, Mr. Mahoney has invested in the transaction alongside Calera, management, and employees and said he was “investing substantial funds” of his own “to support the continued successful growth of RFIB,” the statement said.
Mr. Mahoney is based in Bermuda, with global responsibilities.