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THE ARGUS GROUP MAKES LEADERSHIP CHANGES
Hamilton, Bermuda – 05 January, 2011 – Argus Group Holdings Limited (the “Company”; Ticker: AGH.BH) today announces that Alison Hill, Chief Operating Officer (COO), has taken on the additional role of Chief Executive Officer (CEO), effective 01 January, 2011. Gerald Simons, formerly President & CEO, retains the position of President of the company.
The decision to expand Ms. Hill’s role is to ensure a smooth transition in preparation for the anticipated retirement of Mr. Simons in 2012. The company is also making a leadership change to ensure its long-term sustainability and to allow the company more time to focus on important special projects, which include the social, economic and regulatory issues arising from a difficult economic climate and increased regulatory oversight. Mr. Simons will be particularly focused on the proposed changes to the healthcare system that are due to take place over the next two years. In addition, he will ensure the continuity of certain key client relationships.
Having joined Argus in March 2009, Ms. Hill will ensure the continuity of management of the company as it moves ahead with its strategic business objectives. She will provide overall leadership, oversee the day-to-day operations and implement the strategic plan of the Argus Group.
Sheila Nicoll, Chairman of the Argus Group, says: “Alison and Gerald have been working closely with the board during the last 18 months to implement the strategic plan for the company. Therefore she was the natural choice for the CEO role as we move forward with a number of key strategic and operational initiatives”.
New Board Director
Everard Barclay Simmons was appointed as a director of the company at the board meeting held on December 9, 2010. Mr. Simmons, a lawyer, is Managing Partner of Attride-Stirling & Woloniecki, a position he has held since January 2006. He has also worked for Goldman Sachs & Company in New York as an investment banker.
Mr. Simmons currently sits on the Public Funds Investment Committee, responsible for the allocation of USD$1.2 billion of funds for the Bermuda Government and people of Bermuda. Mr. Simmons also sits on the Board of Directors of the Bermuda Monetary Authority.
Sheila Nicoll adds: “I’m delighted to welcome Barclay to the Board. I am confident that his legal, investment banking and senior management experience will be invaluable to the Argus Group.”
Notes to Editors
Argus Group Holdings Limited and its subsidiaries, commonly known as the Argus Group, is a multi-line insurance and financial services organisation offering a full range of insurance, pensions and investment products targeted at local and international organisations and individuals. It is the leader in group health insurance and pension plans in Bermuda. For further information, log on to www.argus.bm.
Mr. Simons joined the Argus Group in 1971 and has held the position of President & CEO at the company since 1998.
Media Contacts:
Elizabeth Tee
Troncossi Public Relations
Telephone:292-5838
E-mail: liz@troncossi.bm