Internal promotion highlights company’s strategic posture to leverage its strong position into greater investment opportunities
LEHI, Utah, June 4, 2024 /PRNewswire/ — PCF Insurance Services (“PCF”), a top 20 U.S. insurance brokerage with operations across 40 states, today announced Brandon Gray has been named Chief Financial Officer (CFO), effective immediately. Gray previously served as the company’s Senior Vice President and Treasurer.
“Being in a position to tell our great story on a national stage, expand our company’s investment strategies, and leverage our strong position into greater financing opportunities requires strategic leadership and vision,” said Felix Morgan, CEO of PCF Insurance. “Brandon’s strong, successful history in this space has been instrumental as our company raises capital to support of accelerated M&A strategy. Now, as our CFO, we’ll leverage his financial acumen to ensure we continue to deliver industry-leading revenue growth as we accelerate our overall growth strategy.”
Gray’s promotion to CFO follows the December 2023 appointment of Morgan to CEO from his former role as CFO and COO. Since joining PCF Insurance in March 2023, Gray has been instrumental in arranging funding opportunities from investors as the company seeks to grow its footprint in key markets across the U.S.
In April 2024, Gray’s leadership secured $400 million in incremental debt financing, which was materially oversubscribed and upsized from $300 million to $400 million in response to strong demand from new and existing lenders. In addition, the company reduced the margin on the majority of its debt by 50 basis points, which represents a significant annual savings in ongoing interest expense.
“I’m truly honored to serve our company as CFO during this exciting time for our company,” said Gray. “PCF is focused on strategic growth through the expansion of our footprint in key geographical markets, while setting and achieving aggressive organic growth goals. I’m proud to serve and work alongside our incredible team as we make strategic advances that support our long-term vision of sustainable growth.”
As CFO, Gray will continue to lead and expand PCF Insurance’s investment strategies, treasury operations and financing activities, as well as manage debt compliance. In addition, Gray will now oversee all aspects of financial management, including accounting, operating plans and budgeting, financial forecasting, and cash flow management.
About PCF Insurance Services
A top 20 U.S. insurance brokerage headquartered in Lehi, Utah, PCF Insurance Services of the West, LLC offers a broad array of commercial and personal lines, life and health, employee benefits, and workers’ compensation solutions. PCF Insurance’s operating model and entrepreneurial environment support its tremendous growth profile, offering its businesses alignment through equity ownership, enhanced coverage solutions and capabilities for clients, and shared-services resources. With more than 4,000 employees across the U.S., PCF Insurance is a notable leader in the insurance space, ranking #20 on Business Insurance‘s 2023 Top 100 Brokers and #12 on Insurance Journal‘s 2023 Top Property/Casualty Agencies. Visit pcfins.com for more information.
SOURCE PCF Insurance Services
