Insurance broker and independent financial adviser Lycetts has appointed Ian Barclay (pictured) as chief executive. Barclay is stepping into the role following the retirement of Charles Foster, who led the company for seven years.
The new CEO brings over 20 years of senior leadership experience from major insurance firms to the top post at Lycetts. Barclay’s career began at Guardian Royal Exchange, followed by his tenure at AXA Group in Paris starting in 2000. His credentials include time spent as chief executive for the UK and Asia at AXA Art Insurance and personal lines managing director at Aon Risk Solutions.
Additionally, Barclay held the position of managing director of property retail at The Ardonagh Group and Geo Underwriting, where he led agricultural managing general agents like Rural Insurance Group, AIUA, and BIBU – closely aligned with Lycetts’ market presence. Most recently, Barclay has been working as an independent business adviser and mentor.
Commenting on his appointment, Barclay stated: “I am thrilled to be joining Lycetts at such a dynamic time for the company. The potential for further growth and innovation is immense, and I am committed to taking the business forward while preserving the strong values and culture that have made Lycetts a trusted name in the industry.”
He also highlighted the advantages of being under the umbrella of Benefact Group, Lycetts’ parent company, noting: “Being part of the Benefact Group is a real plus, as we build a business with a clear purpose and a focus on delivering value for clients while contributing positively to our communities.”
Meanwhile, Foster – who will continue his involvement with Lycetts as non-executive chair of Lycetts Financial Services – reflected on his time as CEO.
“Lycetts has evolved significantly over the past seven years, maintaining its cultural heritage while embracing new opportunities,” he noted. “With ongoing investments in processes and systems underway across our general insurance and financial services divisions, as well as Lycetts Risk Management Services, it is the right time for new leadership.
“Ian has the expertise to take the company to the next phase of its development, and I wish him and Lycetts every success.”
Welcoming Barclay while acknowledging Foster’s contributions, Benefact Group broking & advisory CEO David Moore went on to highlight Lycetts’ current standing.
“We have an excellent team at Lycetts, and Ian brings additional experience and a strong track record that will be invaluable as Lycetts delivers further growth and smarter ways of working,” Moore said. “I have full confidence in Ian’s ability to lead Lycetts during this exciting next phase.
“I would also like to thank Charles Foster for his seven years of service as CEO. He leaves a very different and much stronger business from the one he took over – revenue has grown by more than a third during his tenure, and Lycetts has just reported its highest ever annual profit.”
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