Steadfast Group COO Nigel Fitzgerald will step down on July 1 to pursue a “personal business venture” after two years with the listed company.

As reported in a Breaking News bulletin earlier today, the broking group’s MD and CEO Robert Kelly has repeated his commitment not to retire before the end of next year, and says the search for his successor will begin “in due course”.

Mr Fitzgerald had been widely tipped to be Steadfast’s CEO in waiting before today’s update to the Australian Securities Exchange.

But Mr Kelly says “a number of internal candidates” could be considered.

In a restructure of the executive team, Steadfast Group EGM of operations Noelene Palmer has been promoted to COO, effective from July 1, and CEO of Steadfast subsidiary QIB Group Tim Mathieson will become CEO of Australasian broking at Steadfast Group from May 1.

Mr Fitzgerald will assist with the transition in a senior advisory role until September 30, and will remain on the board of some Steadfast subsidiaries.

“Nigel has made a significant contribution to the business and has been instrumental in our success over the past two years,” Mr Kelly said today.

“With his entrepreneurial mindset, he has done a tremendous job solidifying the foundations of our growth strategy, while improving our operational processes.

“I am fully supportive of Nigel as he embarks on his personal business venture and I’m pleased that he will remain within the Steadfast family.”

Mr Kelly says the two promotions highlight the “bench strength of talent” across the Steadfast Group. 

“I reconfirm my commitment to not retire before December 31 2026. It is my intention to continue until a successor has been appointed.

“Steadfast has a number of internal candidates that will be considered as my successor, and in due course the Steadfast board will commence the process to review internal and external candidates.”

Ms Palmer has worked in financial services for almost 25 years in Australia, London and Hong Kong. She has held senior leadership roles at organisations including IAG, TAL, Swiss Re and KPMG. Before joining Steadfast she was COO for the financial crime and fraud prevention team at Westpac. 

Mr Mathieson has worked in the general insurance industry for 25 years. He has been with Steadfast for almost 10 years, including the past five as CEO of QIB, a major subsidiary of the Steadfast Group.

insuranceNEWS.com.au understands QIB chief commercial officer Adrian Humphreys will become QIB Group CEO from March 31.

“These appointments will allow the executive leadership team to focus on the disciplined strategic execution of our proven business model, pursue expansion opportunities, as well as develop market-leading products and services for the benefit of our broker network and their clients,” Mr Kelly said.

From July 1, the Steadfast Group executive leadership team led by MD and CEO Mr Kelly will comprise:

• Stephen Humphrys – CFO 
• Noelene Palmer – COO
• Samantha Hollman – CEO international  
• Nick McKee – COO international  
• Eimear McKeever – CFO international
• Tim Mathieson – CEO Australasia broking
• Nick Cook – EGM New Zealand, Singapore and broker services
• Mark Senkevics – EGM underwriting agencies, ART, reinsurance and life
• David Gillespie – chief technology officer
• John O’Herlihy – EGM operations and acquisitions
• Jeff Papps – EGM operations and acquisitions
• Duncan Ramsay – group general counsel and company secretary
• Peter Roberts – EGM business solutions
• Shalome Ruiter – EGM investor relations and ESG
• Ferzana Yale – EGM people