Hub International Limited (NYSE:HBG) (TSX:HBG) announced today the opening of Hub International Gulf South, based in New Orleans, to provide a full range of brokerage services in Louisiana and nearby states.
The office will be staffed by a team of highly experienced producers, formerly with Marsh & McLennan, who bring both market insight and strong reputation to their roles. Hub plans to add to its producer team and customer service capabilities in New Orleans in the coming months.
"Our new office in New Orleans provides substantial opportunity to expand our revenue base and corporate reputation in the South," said Martin P. Hughes, Hub's chairman and chief executive officer. "While we continue to seek growth through acquisition in the South and Southeast, as outlined in our strategic plan, we are confident that we can achieve substantial growth with the core team that will establish our Gulf South brokerage."
Hub International Gulf South will be headed by Broderick (Rick) Grubb, managing director, who brings more than 25 years of experience in underwriting, marketing, sales, risk management, communications and casualty risk management. Grubb joined Marsh USA Inc. in 1997 as a client executive specializing primarily in healthcare and casualty risks and most recently served as vice president. Earlier, he was director of underwriting and marketing at Louisiana Medical Mutual Insurance Company and an assistant vice president at Johnson & Higgins of Louisiana, Inc. He holds a BA Degree from Macalester College in St. Paul, Minnesota and an MBA from Loyola University in New Orleans. In addition, he has studied at the Kellogg School of Business at Northwestern University and the AB Freeman School of Business at Tulane University.
"After many years in the brokerage industry, the opportunity to build a new business as part of a well-regarded organization is a major milestone," Grubb said. "Middle-market companies in our area can benefit greatly from the kind of service and market access that Hub provides across North America, and I'm excited about the opportunity to bring Hub's value to a new market."
Griffin Sole, who will become senior vice president and chief sales officer, was most recently a vice president at Marsh USA in New Orleans, where he was named one of the top 15 producers in North America in 2004. Prior to joining Marsh & McLennan, Sole was a military intelligence officer. He holds a BA from Texas Christian University and a master's degree in business administration from Loyola University in New Orleans.
Kim Plescia, who will become vice president and client advisor, most recently served as a client advisor at Marsh USA in New Orleans, where she managed customer relationships, renewals and other client related activities. She holds a BA from Louisiana State University in Baton Rouge.
Hub International Gulf South has leased offices in the Poydras Center at 650 Poydras Street, New Orleans and its team of producers can currently be reached at (504) 481-8962.
Headquartered in Chicago, IL, Hub International Limited is a leading North American insurance brokerage that provides a broad array of property and casualty, life and health, employee benefits, investment and risk management products and services through offices located in the United States and Canada.
This press release may contain forward-looking statements which reflect our current views with respect to future events and financial performance. These forward-looking statements relate, among other things, to our plans and objectives for future operations and are subject to uncertainties and other factors that could cause actual results to differ materially from such statements. These uncertainties and other factors include, but are not limited to, risks associated with implementing our business strategies, identifying and consummating acquisitions, integrating acquired brokerages, attaining greater market share, developing and implementing effective information technology systems, recruiting and retaining qualified employees, fluctuations in the premiums charged by insurance companies with corresponding fluctuations in our premium-based revenue, any loss of services of key executives, industry consolidation, increased competition in the industry, fluctuations in the demand for insurance products, exchange rates, resolution of regulatory issues, including those related to compensation arrangements with insurance companies, the actual costs of resolution of contingent liabilities and the passage of new legislation subjecting our business to regulation in jurisdictions where we operate. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Additional information regarding these risks and other factors that could cause Hub International's actual results to differ materially from our expectations is contained in the company's filings with the Securities and Exchange Commission and the Canadian securities commissions. Except as otherwise required by federal securities laws, Hub International undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.