Insurance broker Acrisure has marked its entry to the US asset management space with the establishment of a new division, Acrisure Asset Management.

Concurrently, the company appointed asset and wealth management veteran Patrick Rogers to head the newly formed unit.

As president of the unit, Rogers will oversee the development of the new business line through a combination of Acrisure’s mergers and acquisitions capabilities and distribution through its existing broker network and tech-enabled AI solutions.

Acrisure co-founder, president and CEO Greg Williams said that the move is the first step towards driving the company’s tech-enabled solutions beyond insurance service.

Williams commented: “Acrisure is leveraging our financial strength, industry expertise and global distribution power with the integration of best-in-class artificial intelligence to tech-enable and expand the traditional insurance model.”

Rogers said: “Acrisure already maintains a hugely valuable network of trusted advisers with deep and longstanding client relationships.

“By adding asset management to Acrisure’s repertoire of services, we are unlocking a future of opportunity for clients and advisers alike. I am beyond excited to help Greg and the team realise our ambition for Acrisure to become a world-class financial services juggernaut.”

In his 35-year tenure, Roger has held leadership positions in asset and wealth management firms including Gateway Investment Advisers and Quadrant Capital Group.

Commenting on Rogers’ appointment, William added: “Patrick’s expansive knowledge in the industry, proven success and commitment to supporting entrepreneurship will make him an invaluable asset to Acrisure as we take the next step in expanding our product and service offering.”

In 2019, The Hanover Insurance Group launched Hanover Financial Institutions Advantage for asset managers.