R&Q boss Ken Randall steps down; co-founder Quilter and AM Best's Sellek appointed joint CEOs

Ken Randall will no longer serve as the group chief executive officer (CEO) of Randall & Quilter Investment Holdings (R&Q), and will hand over the reins to Alan Quilter, who co-founded the business with him in 1991.

Randall will step from from the group CEO position, but will remain as executive chairman of the group.

Former AM Best and Lloyd’s executive Roger Sellek and R&Q's co-founder and chief financial officer Quilter will serve as joint CEOs of the company. Both the executives will be jointly responsible for the group’s business and will have direct management responsibility for a number of the group’s business activities.

Sellek joins R&Q from rating agency AM Best, where he was CEO with responsibility for the group’s worldwide activities ex-Americas. He was with AM Best for 12 years, initially based in London and relocating to Singapore in 2015.

Prior to that, Sellek held senior roles within the Corporation of Lloyd’s, providing leadership across a range of areas including the development and implementation of key initiatives such as risk-based capital and realistic disaster scenarios as well as the modelling of Lloyd’s Central Fund adequacy. He was also responsible for delivery of the initial credit ratings for the Lloyd’s Market. As commercial director at Lloyd’s from 2000, he was responsible for the market’s strategic business relationships with its investor base, brokers, the rating agencies and the financial-analyst community.

Following Sellek's appointment, the company's board will comprise of four executive directors -Randall, Quilter, Mark Langridge and Sellek), and four non-executive directors - Michael Smith, Alastair Campbell, Phil Barnes and Jo Fox).

Randall said: “Succession planning has been high on the Board’s agenda and, with the continued development of R&Q’s business, it’s time to add further strength to our senior leadership team and for me to step back from day-to-day operations.

"Alan founded the business with me nearly 30 years ago and has played a key part in the growth of the business. He will retain oversight of the Group’s financial and investment management activities.

"Roger has been known to the Group for many years and I am delighted to welcome him back to R&Q after an absence of more than 25 years. Subject to confirmation of necessary work and residence permits, Roger will initially be based in Bermuda, where the Group is domiciled.”

Sellek added: “Ken Randall persuaded me to enter the insurance industry from academia many years ago and I’m delighted to have the opportunity now to be able to work with Ken, Alan and Mark. R&Q has evolved to become a major force in its chosen sectors of the insurance industry and I am very much relishing the opportunity to contribute to its continuing growth as part of the leadership team.”

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