Chief operating officer appointed CEO at insurer Argus

Alison Hill, currently chief operating officer, will take on the additional role.

She replaces Gerald Simons, who will retain his position of president.

Expansion

The expansion of Ms Hill’s role is to ensure a smooth transition in preparation for Mr. Simon’s anticipated retirement next year.

The company said a leadership change will also help it ensure its long-term sustainability and to allow more time to focus on important special projects, which include the social, economic and regulatory issues arising from a difficult economic climate and increased regulatory oversight.

Mr. Simons will be particularly focused on the proposed changes to the healthcare system that are due to take place over the next two years. In addition, he will ensure the continuity of certain key client relationships.

Sheila Nicoll, chairman of the Argus Group, says: “Alison and Gerald have been working closely with the board during the last 18 months to implement the strategic plan for the company, therefore she was the natural choice for the CEO role as we move forward with a number of key strategic and operational initiatives”.

Argus also appointed a new company director at a board meeting on December 9.

Everard Barclay Simmons, a lawyer, is managing partner of Attride-Stirling & Woloniecki. He has also worked for Goldman Sachs & Company in New York as an investment banker. Mr. Simmons currently sits on the Public Funds Investment Committee, responsible for the allocation of $1.2 billion of funds for the Bermuda Government and people of Bermuda.

Experience

Mr. Simmons also sits on the Board of Directors of the Bermuda Monetary Authority.

Ms Nicoll said: “I’m delighted to welcome Barclay to the board.

“I am confident that his legal, investment banking and senior management experience will be invaluable to the Argus Group.”