Arthur J. Gallagher & Co. announced this week the hiring of Raymond Iardella to step into the role of vice president, investor relations.
Iardella has 13 years of experience within the equity research, insurance and asset management industries. He was most recently an analyst at Surveyor Capitol where he covered insurance brokers and underwriters. Previously, he held senior insurance analyst sell-side roles at Oppenheimer & Company as well as Macquarie Capital. He began his career in the industry at American International Group. Raymond graduated with a BA in Mathematics from The College of the Holy Cross in Worcester, MA.
"Ray's insurance experience and natural focus on shareholder value, will make him a valuable addition to our investor relations team," said Doug Howell, Gallagher's Chief Financial Officer. "Teaming Ray with Marsha Akin is the perfect combination to move our investor relations function forward."
The announcement comes at a time of acquisitions for Gallagher & Co., including its recent agreement with Kane Group to acquire the latter's insurance management operations.
The acquisition is set to close on or before March 31 and is subject to certain closing conditions. Other terms of the transaction were not disclosed.
Kane is one of the largest global independent insurance managers. The insurance management company specializes in development and management of insurance and alternative risk solutions, primarily for the healthcare, insurance, financial services, transportation and construction industries.
According to the Sonoran Weekly Review, Kane’s shares are up 1.2% at $44.22, with a 52-week range of $35.96 – $49.59. The company’s stock rose 0.96% or $0.42 during the last trading session, peaking at $44.1. Approximately 793,512 shares traded hands.
On the other hand, Arthur J Gallagher & Co downtrending persists, as the company declined 7.12% since August 13, 2015. Against the S&P 500 index, it has underperformed by 5.50%.
