Cranford, N.J. – Tom Sharkey Jr., former president of Bank of America’s insurance arm, returned to Meeker Sharkey Associates, assuming the position of president. The Sharkey family relaunched Meeker Sharkey, a property/casualty insurance and employee benefits insurance brokerage 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 key to the company’s client-focused growth strategy as it strives to recapture 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,” says Sharkey. "This void creates a real market opportunity for us. 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 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, 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 relaunched 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.
Source: Meeker Sharkey Associates
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