New Zealand broker Rothbury has recruited Paul Munton from Lumley to fill the new role of EGM Broking Branches.

MD Roger Abel says Mr Munton will join the executive leadership team, and the new role reflects the growth of the company, which employs 220 people.

“Over the years we have gone through these stages where we have needed to bolster the strength of our leadership team,” he told insuranceNEWS.com.au.

Rothbury, which is 30% owned by Steadfast, has grown through acquisition by offering an “owner-driver” model that lets owners release equity, fully or partly retire, or sell down their stake and let younger brokers in the company buy in.

Mr Abel says the group aims to grow to about 300 staff and establish a presence through acquisition in more New Zealand provincial centres.

Mr Munton will work on this strategy when he joins in February.

He was previously Lumley GM broker products and has also worked for Swiss Re, Ansvar and Aon. He is chairman of the New Zealand member advisory board of the Australian and New Zealand Institute of Insurance and Finance.