Stephens Insurance LLC announced Tuesday (Jan. 29) that Miles Stephens will become CEO, effective June 3, 2019.
Headquartered in Little Rock, Stephens Insurance LLC is an affiliate of Stephens Inc.
Stephens will succeed Martin Rhodes, who will become chairman.
Rhodes joined Stephens Insurance in 2005 and grew the business into the largest privately owned insurance brokerage in the Mid-South.
Stephens has spent the past four years as an investment banker at Stephens Inc. focused on auto retail and energy, key industries in which Stephens Insurance has a presence.
“Being a part of an incredible team and building Stephens Insurance into an industry leader has been a rewarding and meaningful endeavor,” Rhodes said in a statement. “What first attracted me to the company was the family ownership structure and the abiding commitment of Warren Stephens to the business. This has been an important differentiator for our practice and those we serve.
“As a multi-generational, family organization, it is exciting to have Miles lead this important business for Stephens and continue the success of this first-class insurance organization.”
Stephens commented, “Marty has made an indelible impact on Stephens Insurance and it’s now my mission to build upon this momentum. The insurance industry, and how it services clients, is ever changing and how we tackle this complex environment over the near and long-term will define our place in the market. I look forward to working with Marty and team in guiding the business forward at this unique time for Stephens Insurance.”
Since joining the firm in 2014, Stephens has been a member of the Investment Banking division, most recently as a senior vice president advising mid- to large-sized companies. Earlier in his career, he worked for Hotchkis and Wiley Capital Management and Lehman Brothers. He is a graduate of Dartmouth College and received his MBA from Columbia Business School.