R&Q adds to board with dual pick

R&Q Insurance Holdings has made two appointments to its board, with Stephen Welch and Lawrence Hirsh arriving as non-executive directors, effective from 18 April 2024.

Stephen Welch has worked for financial sponsors and investors in both executive and non-executive roles. He has extensive experience managing complex corporate issues, including several restructuring situations of regulated financial services and insurance businesses. Welch is also a non-executive director of Telegraph Media Group, The Spectator (1828) and the Primary Group. Welch was a partner at McGrathNicol and a senior managing director at FTI Consulting.

Lawrence Hirsh has acted as an independent board member and advisor to a number of companies, providing financial and operational services. Hirsh was previously a managing director for Alvarez & Marsal, leading its Southeastern US corporate restructuring practice, and a partner at Arthur Andersen. As both an advisor and during his career, Hirsh has a track-record of helping drive operational improvements and cost reduction programs.

Jeff Hayman, chairman of R&Q, said: “Stephen and Lawrence both bring relevant additional experience to the Board, in particular with regards to our priorities of reducing debt and improving the efficiency and expense base of the go-forward business. As we continue to work towards completing the sale of Accredited, these appointments also support our ongoing discussions with lenders to achieve their necessary approvals.”

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