Powerplace hit by Reed departure

Matthew Reed of Axa Commercial Lines

Mr Reed, who is understood to have resigned, joined the business in October 2009 having previously held the position of sales and marketing director at Towergate Risk Solutions.

The news is set to come as a major blow to the firm, which had targeted 1000 brokers and £60 GWP in 2011.

A Powerplace spokeswoman said: “Matthew is currently working his notice to ensure an orderly handover. We will appoint a new chief executive at Powerplace in due course. In the meantime, the management team will

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