Ryan Specialty Announces RT Specialty Executive Leadership Promotions
Ryan Specialty (NYSE: RYAN) has announced executive leadership promotions at its RT Specialty division, effective October 1, 2024. Edward F. McCormack will become CEO of RT Specialty, succeeding from his role as President. Brenda Austenfeld and Michael VanAcker will be appointed Co-Presidents, with Brenda continuing as CEO and President of RT National Property. These changes follow a broader leadership succession plan, with Patrick G. Ryan transitioning to Executive Chairman and Timothy W. Turner becoming CEO of Ryan Specialty. The new executive team aims to continue the firm's growth and deliver exceptional service.
- Executive leadership promotions indicate a strong succession plan and depth of talent within RT Specialty.
- Edward F. McCormack's promotion to CEO highlights internal growth and stability.
- Brenda Austenfeld and Michael VanAcker's appointments as Co-Presidents emphasize experienced leadership.
- Potential disruption during the transition period as new executives assume their roles.
- Edward F. McCormack will become Chief Executive Officer of RT Specialty. Ed has been President of RT Specialty since 2016 and previously served as Chief Operating Officer and General Counsel. He joined RT Specialty at its inception in 2010.
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Brenda (Ballard) Austenfeld and Michael T. VanAcker will become Co-Presidents of RT Specialty.
- Brenda is currently CEO and President of RT National Property and will continue in this role in addition to becoming Co-President. Brenda joined RT through the acquisition of Westrope in 2013 where she was a partner. Brenda has spent 30+ years in the insurance industry and currently serves as President of the Board of Directors for the Wholesale & Specialty Insurance Association (WSIA) as well as a member of the Board of Directors for the Council of Insurance Agents and Brokers (CIAB).
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Michael is currently Executive Vice President of RT Specialty and previously served as Chief Operating Officer of both RT Specialty and Ryan Specialty and Controller for RT Specialty. Michael has spent his entire career in the insurance industry, starting his career at PwC before moving to Ryan Specialty in 2011. He is a licensed Certified Public Accountant in the
State of Illinois .
These promotions follow Ryan Specialty’s recent announcement that it will implement a leadership succession plan, also effective October 1, 2024. As part of the plan, Patrick G. Ryan, the Founder, Chairman, and CEO of Ryan Specialty, will transition to the role of Executive Chairman, and Timothy W. Turner, President of Ryan Specialty and Chairman and CEO of RT Specialty, will become CEO of Ryan Specialty and retain his role as Chairman of RT Specialty.
Commenting on these new appointments, Tim Turner said, “I’m very excited about these well-earned promotions. All of these individuals are proven strategic leaders, have more than a decade of experience in senior positions within RT Specialty, and enjoy excellent relationships with clients, carrier trading partners, the larger insurance industry, and the entire RT Specialty team. Ed and I have worked alongside each other since the inception of RT Specialty, and he is a very strategic, thoughtful leader who is well positioned to be an excellent CEO. Along with Marissa Moscowitz as Chief Operating Officer, this exceptional executive team will continue to lead RT Specialty forward in delivering exceptional service and outstanding outcomes for our clients and carrier trading partners.”
- Ed can be reached at Ed.McCormack@rtspecialty.com or (312) 784-6014.
- Brenda can be reached at Brenda.Austenfeld@rtspecialty.com or (239) 206-5150.
- Michael can be reached at Michael.VanAcker@rtspecialty.com or (312) 878-1858.
About Ryan Specialty
Founded in 2010, Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents, and carriers. Ryan Specialty provides distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers. Our mission is to provide industry-leading innovative specialty insurance solutions for insurance brokers, agents, and carriers. Learn more at ryanspecialty.com.
About RT Specialty
RT Specialty is a leading wholesale distributor of specialty insurance products and services and the wholesale broking specialty of Ryan Specialty. The firm’s specialist brokers handle an expansive mix of property, casualty, professional lines, transportation, personal lines and workers’ compensation insurance products, on both an open market and delegated authority basis. RT Specialty’s entrepreneurial spirit is combined with advanced risk modeling, market access, and claims advocacy to provide excellent solutions to its clients. Regardless of account size—big or small—RT Specialty is dedicated to providing lightning fast, expert advice, advocacy and execution on behalf of our retail broker clients. Learn more at rtspecialty.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240702794524/en/
Media
Alice Phillips Topping
Chief Marketing & Communications Officer
Ryan Specialty
Alice.Topping@ryanspecialty.com
(312) 635-5976
Investor Relations
Nicholas Mezick
Director, Investor Relations
Ryan Specialty
IR@ryanspecialty.com
(312) 784-6152
Source: Ryan Specialty Holdings, Inc.
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