Arthur J. Gallagher & Co. Announces Leadership Transition in its U.S. Wholesale Business Unit

Feb 01, 2016, 13:56 ET from Arthur J. Gallagher & Co.

ITASCA, Ill., Feb. 1, 2016 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced a leadership transition in its U.S. Wholesale Brokerage Business.

After an impressive career, Chairman of Risk Placement Services, Inc. (RPS) David E. (Dave) McGurn, Jr. has decided to step away from his daily responsibilities. He will be taking on a new role with Gallagher as a special advisor, providing strategic guidance to the company's growing wholesale and retail operations. 

In his place, Joel D. Cavaness, current President of RPS, will join the Gallagher Executive Management Committee reporting directly to J. Patrick (Pat) Gallagher, Jr., Chairman, President and Chief Executive Officer of Arthur J. Gallagher & Co. Cavaness will continue to provide day-to-day leadership for the business unit.  

"Since Dave joined Gallagher in 1978 as an account executive, he has significantly contributed to our company's growth. I am thankful for Dave's vision, leadership and years of service, and delighted that he will continue to share his invaluable perspectives with our company as a special advisor leveraging his substantial expertise.

"During the past two decades, Dave has been on the front lines of our company's efforts to build a world-class wholesale brokerage operation as one of the co-founders of Risk Placement Services with Joel Cavaness. Since its inception in 1997, RPS has grown to become a leading specialty insurance wholesaler and one of the largest Managing General Agents/Underwriting Managers in the United States," said Pat Gallagher.

Gallagher added, "Dave's strong partnership with Joel over the past two decades ensures solid continuity for RPS. Joel is a respected business leader who has spent significant time in the trenches and knows what's needed to support our expanding business interests and relationships. His commitment to business and people development and high professional standards will continue to serve Gallagher's customers and partners well for years to come."

Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 31 countries and offers client-service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants. 

David W. (Dave) McGurn, Jr. Corporate Vice President, Arthur J. Gallagher & Co. and Chairman, Risk Placement Services, Inc.  

Dave joined Gallagher in 1978 as an Account Executive, moving up the leadership ranks from Unit Sales Manager, to Divisional Executive Vice President, to Divisional Chairman.

He was named a Corporate Vice President of Arthur J. Gallagher & Co. in 1994 and served on Gallagher's Board of Directors from 1993 until 2001.

He is currently Chairman of Risk Placement Services, Gallagher's U.S. Wholesale Brokerage operations, which he was instrumental in forming in 1997.

Since 1996, Dave has served on the Board of Directors of the Council of Insurance Agents and Brokers (CIAB), and was elected Chairman of its Board in October 2011.

He began his career in the insurance industry in 1976 as a management trainee for Aetna Insurance Company.

Dave holds a Bachelor's of Science in Finance from the University of Connecticut.

Joel D. Cavaness President of Risk Placement Services, Inc. and Corporate Vice President of Arthur J. Gallagher & Co.

As President of Risk Placement Services (RPS), Joel heads up one of the nation's largest Managing General Agents and fastest-growing Property & Casualty wholesalers. As President, Joel leads more than 1,300 RPS employees in more than 30 states.

Under his guidance, the company has grown with an emphasis on innovative program design, commitment to long-term relationships and high professional standards. In 2014 and 2015 alone, RPS acquired nine companies, including Monument, Excel Insurance Services, and American Wholesalers Underwriting.

After graduating from Southeast Missouri State University with a Bachelor's in Business Administration, Joel spent three years working as a casualty underwriter for standard and excess/surplus carriers.

In 1986, Joel joined Arthur J. Gallagher & Co. in St. Louis as a marketing representative, working his way up to Area Vice President by 1990. In 1996, he moved to Itasca as President of International Special Risk Services, Inc.

 In 1997, he was named President of RPS and in 2000 he was appointed a Corporate Vice President of Gallagher.

Joel is very active in the National Association of Professional Surplus Lines Offices, Ltd. (NAPSLO), having served on the Board of Directors since 2010. He holds both Chartered Property Casualty Underwriter (CPCU) and Associate in Risk Management (ARM) designations.

Investors:  Marsha Akin

Media: Anna Rozenich

Director-Investor Relations

VP-Global Media Relations




SOURCE Arthur J. Gallagher & Co.