BMS Re names Wheeler and McGuire Co-CEO’s, as Chandler moves to vice-chair

Reinsurance broker BMS Re, part of the BMS Group, has announced that its chief executive officer Pete Chandler is stepping down from the CEO role, to become vice-chair, with Andrew Wheeler and Russ McGuire now appointed as interim co-CEOs

Chandler is transitioning into a strategic, client-focused, role as vice-chair of BMS Re and will remain a director on the US board.

He had led BMS Re for more than four years, a period of strong growth for BMS’s reinsurance arm and now as vice-chair, Chandler will continue to work with key clients of the company, support the broking teams and work alongside Nick Cook, BMS Group CEO, to help in attracting and developing the next generation of leaders for the company.

Cook will now take on the chair role for the US executive committee.

Andrew Wheeler and Russ McGuire will take on responsibility for the reinsurance broking teams across the US, focusing on continuing growth and ensuring a smooth leadership transition.

Wheeler has served more than 20 years at BMS Re and McGuire joined the company in 2023, following 18 years at Swiss Re.

Chandler commented, “Now is the right time for me to step away from the day-to-day CEO role of BMS Re having achieved what we set out to do when I joined the business. I am extremely proud of what we have built, we have grown into a business that we are all incredibly proud of and it has been my enormous privilege to have led it and worked alongside my amazing colleagues. I cannot wait to go back to what I love the most, helping our clients better their businesses and working closely with our fantastic teams across the US and around the world.

“I will be focusing my time on the company’s key clients and working directly with them in assisting with their growth plans, capital requirements and supporting Nick Cook, Group CEO, to put in place the next generation of leaders within this fantastic company.”

Nick Cook added, “The foundations of BMS Re’s success owe an immense amount to the total dedication of Pete who can be hugely proud of all he has achieved. Under his leadership, we saw BMS Re revenues and EBITDA triple as well as the hiring of over 175 new colleagues in the past 4 years. BMS Re is poised for its next stage of growth and investment, and I greatly look forward to 2024.”