Hub International Limited (TSE: HBG- News) announced today that Joseph P. Flanagan and Richard J. Palleschi have been named President and Chief Executive Officer at two of the Company's brokerage units: Mr. Flanagan at Chicago-based Mack and Parker, Inc. and Mr. Palleschi at The McCarthy Companies, in Massachusetts.
Joseph P. Flanagan
Mr. Flanagan, who will work with Mack and Parker Chairman, Edward E. Mack III, joined Hub International and Mack and Parker in June, 2001, along with his firm, J.P. Flanagan Corporation. In January, 2002, the Flanagan firm merged with Mack and Parker, and at that time J.P. Flanagan assumed the Mack and Parker name. Mr. Flanagan founded J.P. Flanagan Corporation in 1992, at age 27, and, among other things, developed the Flanagan Professional Liability Division which sells liability coverage nationally, primarily to attorneys.
In making the announcement, Bruce D. Guthart, President of Hub's US Operations, said that Mr. Flanagan had an exciting track record of building the organization he founded organically, through programs such as the Professional Liability offering, and also through acquisitions. Mr. Guthart added, "We are very fortunate to have both the ongoing guidance of Ed Mack and the dynamic leadership of a talented entrepreneur like Joe Flanagan. They are an excellent team to expand our mid-west capabilities."
Mr. Mack said, "Joe is a proven leader in our industry, with a demonstrated history of success in building a sales and service organization. This is a well-deserved recognition of his abilities, and I look forward to working with him to bring our clients the products and services they need to protect their assets and grow their businesses."
Richard J. Palleschi
Mr. Palleschi, previously Executive Vice President and Chief Operating Officer of The McCarthy Companies, will report to Cornelius J. McCarthy, who will continue in his role as Chairman of the unit. Prior to joining McCarthy in 1983, Mr. Palleschi held various underwriting and marketing management positions in the insurance industry for 20 years.
Mr. Guthart said that the promotion will foster a smooth transition of day-to-day management at McCarthy. He added, "The McCarthy companies have grown impressively under the leadership of Connie McCarthy for many years. Now Connie can focus on merger and acquisition opportunities that will continue that development. At the same time, Dick Palleschi's strong background in the brokerage business will provide steady management of the firm's client services, carrier relationships and operations."
Commenting that he was pleased to have Mr. Palleschi assume a new role, Mr. McCarthy said, "This appointment acknowledges of the productive part Dick has played in the stewardship of our business. I am confident that our clients, employees and the carriers with whom we do business will all gain from Dick's experience and familiarity with our operations and strategic growth plan."
Hub International Limited is a leading North American insurance brokerage providing a broad array of property and casualty, life and health, employee benefits, investment and risk management products and services.