08 September 2020Nexus Reorganises Executive Team to Pursue Xenia Separation Strategy
PRESS RELEASE: Leading independent specialty Managing General Agent Nexus Group (“Nexus”) today announced a reorganisation in its management team following the recent launch of Xenia Broking Group (“Xenia”) and as Nexus’ focus turns to execution of its previously trailed strategy for establishing the fast-growing broker as a separate business.
To this end, Tim Coles hands over his COO role at Nexus in order to lead the separation process as CEO of Xenia Broking Group. Tim Brangwyn, Managing Director of Millstream Underwriting Limited (“Millstream”) is promoted to COO and Rob Amati, currently co-Director of Millstream, is promoted to Managing Director of that business.
Colin Thompson, Group CEO of Nexus, said:
“These moves reflect our unrelenting single-mindedness to bring out the best of our talented executive team as the group continues its journey of success and growth. I am very pleased for Tim Brangwyn - he brings great experience and a credible track record of running a business to his new role and I am confident he will lead us to further achievements.”
We launched Xenia Broking Group Limited in March 2019 when Tim Coles became its CEO in addition to his role as Nexus Group COO. It is with great credit to his leadership that we were able to announce last month the integration and launch of Xenia. This was an important step in Xenia’s development and enables us now to pursue our strategy of separation of the broking group as we believe it will develop faster as an independent entity. Tim will now focus on that process and the development of Xenia”.
Millstream remains in the highly skilled hands of Rob Amati, who has shown what he is capable of and is more than ready for promotion to Managing Director. I am excited by what these changes mean for the group and for where they will take us.”
Tim Coles, CEO of Xenia Broking Group, said:
“We are very clear that our primary objective in Xenia to become the world’s leading trade credit and surety broker is eminently achievable. We have the experience, employee talent and specialisation needed to achieve that aim. We see the process for establishment of Xenia as an independent business as a hugely exciting opportunity for all in Xenia and for all those that we hope will join us.”
Tim Brangwyn, COO of Nexus, said:
“I’m delighted to have the opportunity of contributing more widely to Nexus’ continued success and look forward to working with all the business leaders within the group. The difficult times we’re all facing bring fresh opportunities and Nexus is ideally positioned to evolve and take full advantage of them.”
Tim’s career to date spans 30 years of underwriting and broking experience in senior leadership roles within both private and public organisations. He is an Associate of the Chartered Insurance Institute.