“Mike’s broad experience in the insurance brokerage industry and his strategic perspectives will be a tremendous asset to BroadStreet and its core partners,” said Rick Miley, executive chairman of BroadStreet. “As we continue to build out our breadth of capabilities, Mike’s leadership will help us further solidify our industry leadership position, accelerate our growth, and strengthen our ability to bring innovative solutions to our partners.”
Current CEO Ken Kirk will step into the newly created role of vice chair. Kirk will also take on his new role effective Jan. 1.
“I joined BroadStreet because of its unique partnership approach and differentiated co-ownership business model,” O’Connor said. “Core agency partners are attracted to BroadStreet because it is the best model for successful entrepreneurs: our partners have operational autonomy while we provide long-term financial stability, solutions for succession, support for organic and acquisitive growth, and the opportunity to accelerate agency value and build wealth for our equity partners.
“There is significant opportunity ahead for BroadStreet and I’m honored to take on the CEO role. I’m thrilled that I will continue to work alongside Rick and Ken, who will be critical to our continued success.”
Read next: Broadstreet Partners appoints new president
“I’m excited to undertake the work ahead of us to further BroadStreet’s partnership and geographic footprint,” Kirk said. “Our ability to help accelerate our partners’ growth is compelling; we see agencies grow in the mid-single digits become 20%-25% top-line growers following our partnership.”
“In addition to bringing on numerous core partners, Ken has been instrumental in advancing BroadStreet’s organic growth strategy and leading the development of scalable business opportunities among our partners,” Miley said. “Our board of directors is appreciative that Ken has agreed to take on this role of vice chair.”
Have something to say about this story? Let us know in the comments below.
