In another top move at Philadelphia Insurance Cos., the man who was named president several weeks ago has stepped down and been replaced by another PHLY executive.
Sean S. Sweeney was named president and CEO of the firm on Jan. 1 after James “Jamie” Maguire Jr. announced late last year that he was stepping down as leader of the insurer that had a founding Maguire family member at the helm for 50 years.
Sweeney abruptly left that position.
Robert D. O’Leary Jr., former executive vice president and chief marketing officer, has been named the company’s current president and CEO.
PHLY announced that Sweeney was stepping down for personal reasons. No reason was given for Maguire’s departure last year. Maguire remains company chairman.
“Bob (O’Leary) has been a significant influence on the success and expansion of PHLY’s operations during his 30 years with the Company,” said Maguire in a company statement.
Sweeney, who is reportedly Maguire’s cousin, also spent 30 years with the company.
“I’ve worked closely with Sean (Sweeney) over the past 18 years and I have the highest respect and admiration for him and his contributions to PHLY,” Maguire said. “I thank Sean for all he’s done and we wish him all the best.”
Maguire became CEO of the Bala Cynwyd, Pa.-based property-casualty insurer in 2002, and led growth from $460 million annually to $2 billion.
O’Leary’s began his insurance career in 1977 as an industrial sales representative for American Mutual Insurance. In 1982 he joined Maguire Insurance Agency (the original marketing name of Philadelphia Insurance Co.) as a regional manager for New England. He was named regional vice president of PHLY in 1986 and managed the Great Lakes area in addition to New England and New York.
In 2006, O’Leary was named senior vice president for the Eastern territory, and two years later was promoted to executive vice president of marketing. He assumed the role of executive vice president and chief marketing officer in January 2012.
See related story: Maguire steps down as CEO of national carrier, Philadelphia Insurance