Wells Fargo Insurance, part of Wells Fargo & Company, has appointed Richard Colton as the new head of its mergers and acquisitions (M&A) industry practice operations.
Having 30 years of industry expertise, Colton will work closely with clients pursuing opportunities with private equity-related transactions, as well as manage the related sales and growth initiatives, and operations.
Reporting to Wells Fargo Insurance's Northeast regional managing director Peter Gilbertson, he will be based in New York.
The M&A operation provides clients with insurance, risk, due diligence, and employee benefit services and solutions to middle market and large corporate customers, including private equity firms.
Commenting on the appointment, Gilbertson said. "Under his leadership, Wells Fargo Insurance will not only better serve our customers, but will be a valuable resource for other businesses throughout the company that serve the private equity industry."
Prior to accepting the current position, Colton worked as co-founder of Aon's mergers and acquisitions group and was also former chairman of Lockton's mergers and acquisitions group.
Managing 127 offices in 37 states, Wells Fargo Insurance offers services to a wide range of customers, including retail consumers, high net worth individuals, small businesses, as well as middle market and large corporate customers.
The 7,000 insurance professionals of the company write or place $15bn of risk premiums annually in property, casualty, benefits, international, personal lines, and life products. It also includes the nation's largest crop insurance provider, Rural Community Insurance Services (RCIS).
