Insurance and reinsurance brokerage BMS has announced an expansion of its capital solutions capability, with two key hires announced as the company doubles-down on providing capital agnostic risk financing and transfer solutions.
BMS has hired James Ferris in from PwC in Bermuda and Chris Harding from Athora in London, both as directors of capital and risk advisory.
The newly hired pair will report to Hannah Watkins, managing director of BMS Re in the UK and join the company in April 2022.
Ferris has worked in advisory for the insurance and reinsurance market for more than 20 years at PwC, where he most recently led PwC Bermuda’s advisory team as a partner.
Harding has over 17 years’ experience in insurance, most recently as Head of Corporate Finance & Treasury at Athora UK Services where he led work on capital optimisation and financing solutions.
In the United States, BMS has been providing capital advisory services since 2014.
The company announced a re-structuring of this business recently, behind Steve Korducki who has recently taken on the US BMS Capital Advisory CEO responsibilities, as well as his chairman role.
Managing Directors, Bruce Murdock and Alex Orloff manage the banking and research solutions activities, reporting to Korducki.
Nick Cook, CEO of BMS, commented on the news, “Our capital market presence complements the reinsurance intermediary services offered by BMS Re and provides our clients with access to financing and risk transfer solutions. At BMS, we recognize that we operate at the intersection of capital and risk and are fortunate to have proven industry professionals leading our capital advisory and legacy solutions.
These appointments mark a serious broadening of our global footprint for our capital solutions units and enables BMS to provide a holistic approach to balance sheet management and capital optimization.”
Recently, we reported that Romulo Braga is departing from his position as CEO of BMS Capital Advisory, Inc., the broker-dealer, investment banking, ILS and capital markets arm of insurance and reinsurance brokerage BMS.
So far no replacement has been announced for that position.