Draycott to replace Hearn as Ed CEO

Reinsurance, wholesale and specialty broker Ed has appointed Andrew Draycott as CEO-designate of Ed Broking in London.

Draycott will take up his role once the acquisition of Ed Broking Group by BGC Partners has completed, subject to regulatory approvals. On completion of the acquisition, Ed will become part of BGC’s new insurance division. Steve Hearn, currently group CEO of Ed Broking will become head of BGC’s insurance division.

Draycott brings nearly three decades of industry experience to the role and has been an integral member of the executive team since Ed’s launch in 2016, according to a corporate statement. He is currently global head of sales and retention and prior to this was the CEO of Ed’s energy, marine and construction division.

“The insurance landscape is developing from a number of perspectives,” Draycott said. “ It is an excellent time to be a high quality independent broker with the financial backing to power growth and technological development. Ed has come a long way in just over two years, the strength and relevance of our disruptive approach has never been greater and I am proud to be leading our London business at a time of such historic opportunity.”

Hearn added: “At the time we announced Ed’s acquisition it was clear that my role would change and that I’d take responsibility for leading BGC’s wider insurance industry efforts. I am therefore delighted that Andrew has agreed to take on the leadership of Ed Broking’s London operations and have every confidence that the business, to which I have an obvious and passionate connection, is in great hands and has a bright future.”

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