Randall & Quilter Investment Holdings (R&Q) has revealed that Ken Randall, co-founder and executive chairman of the company, will retire and step down as a company director effective March 31, 2021.
The announcement follows the January appointment of William Spiegel as executive director and deputy group chairman. Spiegel will succeed Randall as executive chairman effective April 01, 2021.
Randall co-founded R&Q with Alan Quilter in 1991. The company played a pioneering role in the development of the legacy market, now worth more than $800 billion. Today R&Q is a non-life global specialty insurance company operating two complementary businesses: program management and legacy insurance.
“Today the opportunities for R&Q are arguably the greatest since I founded the business with Alan nearly 30 years ago, as the significant growth in our two core markets, legacy and program management, continues to accelerate,” Randall said. “In addition, the strength of the management team we have built gives me great confidence in our ability to capitalise on these opportunities. R&Q has always been a business that combines entrepreneurialism, boldness and innovation, and in William I am delighted to have identified a successor who encapsulates these values. Since his joining in January, I have been deeply impressed with William’s energy, drive and vision, reinforcing my confidence in him as the right individual to take R&Q forward when I retire.”
“It will be a great honour to succeed Ken, a true pioneer and genuine legend in our industry,” Spiegel said. “I look forward to celebrating all Ken has achieved in nine months’ time, but in the immediate term I know he would not want to distract focus as we look to build on a record 2019. Ken has been instrumental in creating a unique business in R&Q. I’m excited to accept the challenge and responsibility of building on its culture of success and look forward to continuing to work closely with Ken over the coming nine months to ensure a smooth transition while benefiting from his unrivalled experience.”
