Randall & Quilter appoints Bank of America's Tom Solomon as CFO

Insurance company Randall & Quilter tapped Bank of America veteran Thomas Solomon to take over as chief financial officer on Thursday.

Randall & Quilter said Solomon will be based in the firm's New York office and be appointed to the group's board of directors later in the year.

Prior to his position as managing director at Bank of America, Solomon previously held senior positions at Citigroup and PricewaterhouseCoopers.

Interim chief executive Alan Quilter said: "Tom joins us at an exciting time in our growth.

"His experience will be critical as we seek to capitalise on the current 'hard' market in both our program management and legacy businesses, particularly following our recent $100m equity raise."

As of 1115 BST, Randall & Quilter shares were down 1.00% at 133.65p.