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Boston-based Risk Strategies Co. Inc. on Tuesday named President John Mina its new CEO as Michael Christian, founder of the brokerage and long-time CEO, moves into the executive chairman role.
Mr. Mina, who joined Risk Strategies in April 2017, will set the strategic direction of the company and work as senior adviser to the leadership team while managing day-to-day operations, Risk Strategies said in a statement.
In the CEO role, Washington-based Mr. Mina will push forward on growth opportunities, including merger and acquisition activity, recruitment of key executives and the ongoing build-out of specialty practices, Risk Strategies said.
“Our five-year goal is to achieve $1 billion in revenue, and we are halfway there. During the same time period, I’d like to establish an international footprint,” said Mr. Mina in an interview.
“A first logical step for us would be to have a London access point and retail presence. We’d likely look for an acquisition candidate that has established success and understands the market dynamics and culture locally,” Mr. Mina said.
Establishing an international presence is “the next logical step” and a midterm goal, Mr. Christian said in the interview.
Risk Strategies started working with private equity partner Kelso & Co. in 2015, with the goal of “staying independent and private and growing,” he said.
“Through M&A, we’ve made 60 acquisitions over the last six years. We integrate by getting everyone to work together and having the business as one national business. There’s still work to be done there,” said Mr. Christian.
Risk Strategies has built strong specialty practices in architects and engineers, health care, transportation and captive management lines, said Mr. Mina.
Going forward, construction, energy and agriculture specialties are areas of potential growth for Risk Strategies, he said.
As executive chairman, Boston-based Mr. Christian, who founded Risk Strategies in 1997, will guide the strategic direction of the company, focusing on clients and broader growth initiatives, and will serve as senior adviser to the executive team, Risk Strategies said.
Mr. Mina joined Risk Strategies in 2017 from Willis Towers Watson PLC, where he was head of corporate risk and broking, Atlantic South region and has worked in the industry for 30 years.
The broader leadership team will be restructured to take over Mr. Mina's former duties as president, Risk Strategies said.
Risk Strategies is the 16th-largest brokerage of U.S. business, according to Business Insurance’s latest ranking.
Risk Strategies Co. Inc. said Monday that it has acquired reinsurance specialist Re-Solutions Intermediaries L.L.C.