Cranford, NJ (PRWEB) April 11, 2008
Tom Sharkey, Jr., former President of Bank of America's insurance arm, has returned to Meeker Sharkey Associates, assuming the position of President of the firm. The Sharkey family re-launched the Meeker Sharkey firm in 2007 in response to disruption and turmoil caused by recent broker consolidation and the opportunity presented by rapidly changing conditions in the insurance market today. The appointment of Tom Sharkey, Jr. as President is a key part of the company's client focused growth strategy as it makes progress towards recapturing a leadership role in the insurance brokerage industry.
"The insurance market today sorely lacks a dedication to client-focused management practices, which we know from past experience is what businesses want and need. This void creates a real market opportunity for us," said Sharkey. "Now more than ever, businesses need benefit and insurance strategies that effectively meet their unique strategic business needs, as opposed to the take-it-or-leave-it, one-size-fits-all approach. Meeker Sharkey Associates will provide this client-focused approach."
Sharkey graduated from Villanova University, and later obtained an MBA from New York University. He began his career in 1980 working for Manufacturers Hanover Trust Co., where he honed his skills in finance. He later joined his father's company, Meeker Sharkey in 1985 as a Property & Casualty and Employee Benefits specialist. Over the course of 13 years in the insurance business, Sharkey rose to become President & CEO of Meeker Sharkey in 1998. By that point in time, he had helped to grow Meeker Sharkey into one of the largest U.S.-based risk management, insurance and employee benefits companies in the country.
The company was sold to Summit Bancorp. in 2000, and Sharkey stayed on as the new President & CEO of Summit's Insurance Brokerage Division, which already included four previously acquired insurance agencies. He remained in that position as Summit Bank was sold to FleetBoston in April 2001, and subsequently acquired by Bank of America in April of 2004.
Sharkey left Bank of America in 2006, returning to once again join his father and family in a consultative role as they re-launched Meeker Sharkey Associates as an independent brokerage firm. With the expiration of his post employment restrictions, he is free to assume an ownership and leadership role in the newly-reconstituted firm.
"More than simply recognizing the important role that Tom has played in our company's history, this move portends a bright future for our company and recognizes the importance of the client-centric philosophy that Tom has always championed," commented Tom Sharkey, Sr., Chairman of Meeker Sharkey Associates and Tom Sharkey,Jr.'s father. "Prior to our acquisition by Summit Bank, our family-owned firm was one of the largest P&C and employee benefits firms in the country. This was due in large measure to Tom's leadership and dedication to the needs of our clients. I am confident that Tom will once again lead our talented staff in providing innovative client solutions, which will lead to strong market share growth."
About Meeker Sharkey
For over 100 years, Meeker Sharkey has been a leading property and casualty insurance and employee benefits insurance brokerage firm. Meeker Sharkey grew to become one of the largest U.S.-based risk management, insurance and employee benefits brokerage firms until its sale to Summit Bancorp of Princeton, N.J. in 2000. Tom Sharkey, Jr. was President and CEO and Tom Sharkey, Sr. was Chairman of Summit Bank, Fleet Bank and Bank of America's insurance brokerage division until 2006. In 2007, the Sharkey's re-launched Meeker Sharkey, continuing the family tradition of dedicated associates committed to high-quality client experiences, personal attention and customized commercial risk management and benefit strategies for mid-market companies in the Tri-State region.
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