R&Q hires Tom Solomon as CFO

Randall & Quilter Investment Holdings has appointed Thomas Solomon as group chief financial officer. R&Q confirmed Solomon will also be named on the board of directors later in the year.

Solomon was formerly managing director and head of Americas insurance investment banking at Bank of America, and has held senior positions at Citigroup and PWC.

He is based in New York and reports to William Spiegel, R&Q’s group deputy executive chairman.

Spiegel highlighted Solomon’s deep understanding of the insurance sector, strong numerical background and expertise in the capital markets and M&A. “These attributes will prove invaluable in his new role as CFO,” he said.

Alan Quilter, group chief executive officer and interim CFO, said: “[Solomon’s] experience will be critical as we seek to capitalise on the current hard market in both our programme management and legacy businesses, particularly following our recent $100 million equity raise.”

Ken Randall, group executive chairman, said the hire, which comes on the back of Spiegel’s appointment, is part of the company’s strategy for succession planning.

R&Q is a non-life global specialty insurance company that focuses on programme management and legacy insurance business.