Shipping insurance broker Latitude Brokers is losing two of its founders as it brings in a new Singapore boss.
The company told TradeWinds that founding partners Tom Fulford-Smith, son of shipbroker Richard Fulford-Smith, and Charles D’Alton are leaving on 1 June to pursue their underwriting ambitions outside of Latitude.
The company has appointed experienced insurance man Matt Cannock as managing director in Singapore as a “key component” of the transfer of leadership in the office.
Gabriel Lim has also been promoted to broking director there.
Andrew Brooker, Latitude’s managing director, said: “Tom and Charles have been at the heart of what we have achieved at Latitude and we look forward to continuing our relationship as they pursue their underwriting ambitions. At the same time, we are very excited about the new leadership team we have in place.”
Cannock joins from loss adjusting and marine warranty surveying firm MatthewsDaniel in Singapore, where he was managing director of the Asia Pacific region and a director over the last 22 months.
Lim has been with Latitude since the Singapore office opened in 2016 and his promotion to a leadership position is thoroughly deserved, Latitude said.
Latitude was bought by French shipping insurance group Filhet-Allard Maritime (FAM Group) in December.
Christian Barnabe, managing director of Filhet-Allard Maritime, said: “With Matt, we are bringing in a recognised marine insurance industry figure with over 25 years’ broking and underwriting experience in London and Asia, to lead the team to the next level.”
FAH president Henry Allard added: “All of the staff at Latitude and the wider FAM Group thank Tom and Charles for their hard work in helping to create the company that Latitude is today and wish them the best in their future endeavours.”
Global expansion plan
Latitude Brokers was founded in Hong Kong in 2014 and expanded to Singapore two years later.
The December takeover saw Bordeaux-based FAM Group acquire a controlling stake.
The deal was described as the latest step in Filhet-Allard’s continued global expansion plan, which already includes operations in Switzerland, Ivory Coast and Turkey.
Latitude’s other founding partners are Brooker and Vanessa Toucas.
