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A Caerphilly-based insurance firm has made two key promotions having become employee-owned last year.

Thomas Carroll Group, based on Crescent Road, handed over the reins to its 181 employees as part of an Employee Ownership Trust (EOT) in December.

Gareth Cotty, who has been with the company for 21 years, has been promoted to group chief commercial officer, while Sarah Edwards, who joined in 2006, has been promoted to group chief financial officer.

Mr Cotty, who began his career at RSA, HSBC, and then Marsh, joined Thomas Carroll as a business executive. He then moved up the ranks to become sales director in 2012, joining the board of directors.

In 2018, he became managing director of Thomas Carroll Brokers.

His new role will see him lead on driving revenue and growth within the group, while also maintaining its focus on customer service and product innovation.

He said: “Becoming Thomas Carroll Group’s CCO at this historic time for the business is a real honour. It is such an amazing business to be part of, it has really invested in me and my career.

“In some companies you can often become just a number on a page, but that’s not the case here. I want to make sure that I can now pass this on to current and future employees so that they get the same opportunities I did.”

Meanwhile, Ms Edwards joined the company 18 years ago as an account assistant, before working her way up to becoming chief financial officer.

She would go on to play a key role in the business’ transition to employee ownership.

Ms Edwards added: “I am very grateful to Thomas Carroll for supporting me throughout my career and helping me gain my ACCA qualifications and encouraging me along the way.

“In my role as CFO, I will be responsible for maintaining the financial stability of the business and ensuring the continued success of the EOT.

“I will also be supporting the board in realising the ambitious development of the business. It is an exciting time to be part of this business and I’m looking forward to a bright future for Thomas Carroll.”

Speaking about the promotions, Thomas Carroll CEO Ryan Thomas said: “Gareth and Sarah are a key part of our leadership team here at Thomas Carroll.

“Without Sarah, I don’t think that our transition to become an EOT would have happened as smoothly as it did. She led from the front, with enthusiasm and precision and I know she will do the same in her new role as CFO.

“Gareth has been the main driver in the amazing success of our broker business over the past six years, so it was a given that he would lead Thomas Carroll’s commercial growth plans for the coming decades.”

He added: “Gareth knows this company inside and out and so I know he will excel in this role and continue with our commercial success.”