Marshall & Sterling Enterprises, Inc., a 100% employee owned insurance, risk management and wealth advisors firm announced today the appointment of Eric Diamond as its next Chief Executive Officer, succeeding Tim Dean who will retire from day-to-day operations as President & CEO on January 1,2023. Dean will assume the role of Chair of the Board replacing outgoing Chair John O’Shea, who has been with Marshall & Sterling for over 67 years.
As President of Marshall & Sterling’s Employee Benefits, Diamond has grown division revenue from 1% to over 25% of Marshall & Sterling’s $100,000,000 overall revenue over 12 years. Also, he played a pivotal role in the creation of a new client-focused regional structure as President of Marshall & Sterling’s Downstate Property and Casualty Region, managing sales and client service territories across multiple counties in the Lower & Mid-Hudson Valley regions. Diamond also serves on Marshall & Sterling Enterprises Board of Directors.
“I’m grateful to Tim and the board for their confidence in me and our next generation of leaders”, said Diamond. “As our clients and communities experience new risks and challenges, Marshall & Sterling is prepared to help them manage that risk and focus on getting the most from their lives and their businesses.
Marshall & Sterling also announced that Jim Dahoney, currently the company’s Senior Vice President and Chief Information Officer, has been promoted to the role of Chief Operating Officer. Dahoney has been with Marshall & Sterling for 32 years, serving in roles with ever increasing responsibilities over time.
Dean has served in his current role for fourteen years and has been with Marshall & Sterling for more than 37 years. “I joined Marshall & Sterling based on the employee ownership structure of the company and its reputation for integrity, customer and community focus, and financial strength and stability. This is the perfect time for Eric to take the reins and lead Marshall & Sterling through its next phase of growth and innovation. The addition of Jim as COO will allow Eric even more time to focus strategically at a high level as we continue to grow.”
Prior to joining Marshall & Sterling in 2009, Diamond was President of JS Diamond Group, Inc., overseeing business development, administration, and marketing.
Diamond’s extensive and diverse leadership experience includes expertise in both employee benefits and insurance, helping companies balance employee engagement and retention with benefit costs. He also enjoys coaching and mentoring the next era of people leaders in Marshall & Sterling. A graduate of SUNY Oneonta, Diamond has served on the Board of Directors for the Hudson Valley Economic Development Corporation and is a proud U.S. Armed Services veteran.
In his new role, Dahoney will be responsible for operational and administrative oversight of all subsidiaries and will work directly with leaders of Human Resources, Information Services, and Communications. He also will continue in the role of Director of Strategic Acquisitions where he oversees the search for additional high-quality agencies that can help grow the company.
Dahoney earned his degree in Business Management, Information Systems & Finance from Marist College in Poughkeepsie, NY and is a licensed P&C insurance broker.
John O’Shea’s 67 Year Legacy
O’Shea joined Marshall & Sterling in 1955 and became President and CEO of the company in 1980 and stepped down from that role in 2005. O’Shea will continue to advise Marshall & Sterling leadership about the company’s direction as “Chairman Emeritus”, and chair the company’s Charitable Giving committee, which he helped create several years ago.
“John is a legend, both here at Marshall & Sterling, and in the Hudson Valley,” Dean said. “He was instrumental in creating our Employee Ownership Stock Plan (ESOP) structure in 1979 and has inspired all of us with his business acumen, his compassion for others, and his integrity. We look forward to many more years benefiting from John’s wisdom and care.”
Founded in 1864, Marshall & Sterling Insurance is currently ranked 32nd among more than 40,000 privately held insurance agencies in the United States*, with total annual written premiums in excess of $1billion. A 100% employee-owned company with more than 550 insurance specialists in 33 branch offices in New York, California, Michigan, Florida, Virginia and the U.S. Virgin Islands, Marshall & Sterling has been recognized for exceptional insurance services throughout the nation and remains closely tied to the communities it serves. The company is a “Best Practices Agency” and is ranked among the top performers in the annual Best Practices Study conducted by the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) and Reagan Consulting.
*Source: Insurance Journal
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