Ernst & Young Ltd. has announced two senior leadership appointments in the Bermuda office, including a new regional head of insurance to replace retiring Pete Cangany and a new role to oversee regional growth markets.
David Brown will become EY’s Senior Partner in its Bermuda office and will also take on the role of regional Insurance Leader covering the EY Bahamas, Bermuda, British Virgin Islands and Cayman Islands operations.
Brown replaces Pete Cangany, who is retiring from EY after 37 years with the firm. Brown will take on the role as of 1st July 2017, with Cangany remaining in his position until that time.
Brown was most recently the Insurance Industry leader for the Southwest Region of Ernst & Young LLP in the United States. He has over 27 years of experience working with large multinational clients, including insurance companies with global operations, US domestic insurance enterprises and Bermuda-based global reinsurance companies.
“Under Pete’s leadership, we have been able to build a high-performing team in Bermuda, enhance our relationships with stakeholders across the market and expand our range of services and expertise,” said Dan Scott, Regional Managing Partner for the EY region including Bahamas, Bermuda, the British Virgin Islands and the Cayman Islands.
“We are very excited to have David assume this role and contribute to our legacy of leadership. His deep insurance and reinsurance experience, coupled with his knowledge of the market, will allow us to bring even more global resources to our Bermuda clients and help them capitalize on new opportunities. We are pleased to have Pete remain in the role through the end of June to provide guidance and assist in the transition process,” Scott continued.
Meanwhile and effective immediately, Jessel Mendes takes on the new role of Regional Growth Markets Leader, on top of his current responsibilities as Partner of Ernst & Young Ltd. (EY Bermuda).
Mendes will add responsibilities to drive growth for EY firms across the region, maintaining a pulse on the market and overseeing the growth of the firms services, programs and initiatives, as well as identifying resourcing opportunities to serve clients. Mendes, a member of the board of the Bermuda Business Development Agency (BDA), will also seek to develop new opportunities and help EY Bermuda and the region’s other firms capitalise on their market position.
“We are positioned for the next phase of growth in Bermuda and across the region, so the timing for these changes is ideal,” Scott said. “We have been working diligently with Pete, David and our clients to lay the groundwork for a smooth transition. David has a deep understanding of the challenges organizations are facing and great insurance industry knowledge, so he was a natural choice to lead our Bermuda practice. With Jessel taking on a new role, we now have a great opportunity to serve our clients’ rapidly-evolving needs and accelerate growth.”
The EY Bermuda and regional office and team are service providers to insurance-linked securities (ILS), catastrophe reinsurance and other alternative capital or reinsurance convergence players in the region.