Navacord brings in Bank of America executive for new role

Navacord brings in Bank of America executive for new role | Insurance Business Canada

Insurance News

Navacord brings in Bank of America executive for new role

Key hire brings more than a decade of experience

Insurance News

By
Terry Gangcuangco

Commercial insurance broker Navacord has appointed Jeff Piercy (pictured) as its first-ever senior vice president for capital markets & corporate strategy.

The newly created post will see Piercy play a crucial role in shaping the company’s approach to capital markets and strategic direction. He will collaborate closely with Navacord’s top executives to enhance relationships with bankers, investors, and rating agencies.

Piercy’s remit also encompasses refining the firm’s corporate strategy, aiding in mergers and acquisitions, and spearheading transformative changes. Additionally, he will assist both the president & chief executive and the executive chairman in managing the advisory committee’s agenda and operations.

The function was established as part of Navacord’s strategy to handle the complexities of its capital structure and to leverage strategic opportunities in the US private credit and bond markets.

Shawn DeSantis, president and CEO of Navacord, praised Piercy’s appointment: “Jeff’s demonstrated background in financial markets, paired with his impressive track record in navigating complex transactions, positions Navacord with a critical asset that will allow us to accelerate our growth trajectory. We are confident about the transformational opportunities he will help drive for Navacord.”

T. Marshall Sadd, executive chair, also commented on the strategic addition: “We are pleased to welcome Jeff into this newly created role – his expertise will prove instrumental as he fosters the ongoing development of Navacord’s strategic vision, delivering enhanced value to our clients and stakeholders, and reinforcing our position as a leader in the Canadian marketplace.”

With rich background in investment banking and leveraged finance, Piercy brings 13 years of expertise from his previous position as leveraged finance managing director at Bank of America. During his tenure, he managed numerous significant debt capital raises for major privately-owned insurance brokers in North America.

Piercy had this to say about his new responsibilities: “I am honoured to join the Navacord team and contribute to the company’s continued success in this new role. I look forward to identifying key opportunities that will deliver enhanced value, drive growth, and provide transformational success for Navacord.”

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