PCF Insurance Services promotes treasurer to finance chief
PCF Insurance Services promotes treasurer to finance chief | Insurance Business America
Insurance News
PCF Insurance Services promotes treasurer to finance chief
Internal hire commended for “strong, successful history”
Insurance News
By
Terry Gangcuangco
PCF Insurance Services has promoted senior vice president and treasurer Brandon Gray (pictured) to chief financial officer with immediate effect.
Gray’s elevation to CFO comes after Felix Morgan’s transition to chief executive last December from his former roles as chief financial officer and chief operating officer. Since joining PCF in March 2023, Gray has played a critical role in securing funding from investors to facilitate the company’s expansion into key US markets.
In April, under Gray’s leadership, PCF secured $400 million in incremental debt financing. The financing was significantly oversubscribed, resulting in an increase from $300 million due to high demand from new and existing lenders. Additionally, the company managed to reduce the margin on most of its debt by 50 basis points, yielding considerable annual savings in interest expenses.
“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,” Morgan highlighted.
“Brandon’s strong, successful history in this space has been instrumental as our company raises capital to support our accelerated M&A (mergers and acquisitions) 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.”
As finance chief, Gray will lead PCF’s investment strategies, treasury operations, and financing activities, along with managing debt compliance. He will also oversee all aspects of financial management, including accounting, operating plans and budgeting, financial forecasting, and cash flow management.
“I’m truly honored to serve our company as CFO during this exciting time,” Gray commented. “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.”
PCF’s current operations in the US span 40 states and over 4,000 colleagues.
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