The Nexus Group has announced a reorganisation of its management team following the recent launch of Xenia Broking Group as it aims to establish the broker as a separate business.
Nexus has announced Tim Coles is to hand over his role of COO in order to lead the separation process as CEO of Xenia Broking Group.
Tim Brangwyn, MD of Millstream Underwriting Limited has also been promoted to COO and Rob Amati, currently co-director of Millstream, will take up the role of MD.
Colin Thompson, Group CEO of Nexus, said: “These moves reflect our unrelenting single-mindedness to bring out the best of our talented executive team as the group continues its journey of success and growth. I am very pleased for Tim Brangwyn – he brings great experience and a credible track record of running a business to his new role and I am confident he will lead us to further achievements.
“We launched Xenia Broking Group Limited in March 2019 when Tim Coles became its CEO in addition to his role as Nexus Group COO. It is with great credit to his leadership that we were able to announce last month the integration and launch of Xenia.”
He added: “This was an important step in Xenia’s development and enables us now to pursue our strategy of separation of the broking group as we believe it will develop faster as an independent entity. Tim will now focus on that process and the development of Xenia”.
“Millstream remains in the highly skilled hands of Rob Amati, who has shown what he is capable of and is more than ready for promotion to managing director. I am excited by what these changes mean for the group and for where they will take us.”