US brokerage firm to acquire Lloyd's of London broker

Posted On: Jan. 5, 2017 5:00 AM CST

U.S.-based brokerage firm BGC Partners Inc. has entered into an agreement to acquire U.K.-based Lloyd's of London broker Besso Insurance Group Ltd., StreetInsider.com reports. Upon completion of the acquisition, Colin Bird will continue as chairman of Besso Insurance, while Robert Dowman and Russell Nichols will become joint CEOs and report to Shaun Lynn, president of BGC Partners. Further details of the transaction were not disclosed.