The peak body supporting NZ brokers, the Insurance Brokers Association of New Zealand (IBANZ), has appointed a new president.

Richard Russell, a former President of the Corporation of Insurance Brokers of NZ (CIBNZ) – now part of IBANZ – has taken over from Willis NZ Chairman Allan Morris following a board vote last week. 

The election of Mr Russell came as a surprise. Mr Morris had held the position for only a year and stood for re-election.

Mr Russell, who is also Invercargill branch director of NZ brokerage Crombie Lockwood, hopes his presidency will last up to three years. “It’s usually at least two years,” he said.