Matthew Lucas appointed Chief Operating Officer at Pen Underwriting
Published On : 27 Aug 2020
Pen Underwriting today announces that Matthew Lucas has been appointed to the role of Chief Operating Officer and will join the £600m GWP underwriting business on 01 September 2020. Matthew will also be joining the Board of Pen Underwriting Limited, subject to regulatory approval.
At present, Matthew is COO of Gallagher Benefit Services UK (GBS UK) – the specialist employee benefit, wealth management, communications and HR consultancy arm of Gallagher, Pen Underwriting’s parent company. Prior to joining the company, Matthew held a number of senior roles at Brown Shipley Private Bank, Barclays Wealth and Capita SIP Services, where he led large-scale transformation initiatives and operations teams.
As Chief Operating Officer, Matthew will be responsible for ensuring Pen has the operational capabilities, flexibility and scalability to deliver on its strategic business vision and accelerated growth ambitions of becoming a £1bn GWP underwriting and distribution business. On 01 September he will begin a month-long handover with current COO Michelle Bree to ensure a smooth transition of operational leadership.
Matthew said: “I’m excited to be joining Pen as it embarks on this next ambitious phase and was attracted by the real sense of cultural camaraderie – one strong team, representing a diverse and specialist business that’s all pulling together in a unified direction. Michelle has laid some excellent operational foundations upon which I’m looking forward to building.”
Tom Downey, CEO of Pen Underwriting, said: “Joining us as he is from GBS UK, Matthew is a great fit for Pen bringing shared values as well as a broad and impressive track record in senior leadership experience across business, project, operational and stakeholder management. He’ll be able to hit the ground running at this crucial juncture for Pen and Matthew’s background in the banking side of financial services will undoubtedly bring fresh ideas and energy to delivering operational excellence as we look to deliver on our new vision.”
Commenting on outgoing COO Michelle Bree, who is moving across into Gallagher’s broking division having been appointed COO of its UK Retail business, Tom added: “Michelle has been an incredible asset to our business from when she joined us at the very beginning of our journey five years ago. Instrumental in the creation of Pen, a tremendous colleague and highly talented individual, Michelle will be much missed but is taking up the fantastic opportunity as COO for the UK Retail broking business which will support her continued career development within the group, and we wish her all the very best.”