Planned leadership transition positions World for continued growth

ISELIN, N.J., April 21, 2026 /PRNewswire/ -- World Insurance Associates (World), a leading insurance brokerage and financial services firm, today announced that John Newell will join World as chief executive officer, succeeding founder and long-time CEO Rich Eknoian, who established World in 2011. Eknoian, who grew World from a startup to one of the largest independent brokerages in the United States, will transition to the role of executive chairman, remaining closely engaged in strategic growth initiatives and with World's employees and clients.

Since founding the business 15 years ago, Eknoian built World into a nationally recognized, diversified brokerage platform with more than $700 million in revenue, solidifying the firm as an acquirer of choice in the market. His vision to build a scaled, fully integrated firm that combined disciplined M&A with a deeply client-centered culture attracted partnerships with Charlesbank Capital Partners in 2020 and Goldman Sachs Asset Management in 2023, and has positioned World for sustained growth.

Newell brings more than two decades of experience driving growth strategies, leading large-scale operations and building high-performing teams in the insurance brokerage industry. Most recently, he served as chief commercial officer at Newfront, a technology-enabled specialty brokerage platform, where he led all business units across insurance, benefits and retirement services, expanding the firm into new industry verticals and geographies and transforming service delivery through integrated AI and automation. Prior to Newfront, Newell spent the earlier part of his career at Marsh in leadership roles focused on developing and executing business strategy and leading teams to support long-term growth and profitability. He most recently served as head of the Central U.S. region and was a member of the firm's U.S. Executive Committee, overseeing a $500+ million business with approximately 2,000 employees across 19 offices. During his tenure, he drove significant organic growth, improved operating performance and led strategic initiatives to expand Marsh's reach across multiple end-markets.

The transition to Newell follows a multi-year succession plan led by Eknoian and World's board. Newell will build on World's momentum by continuing to invest in top-tier talent, expanding vertical expertise and accelerating enterprise-wide AI enablement. In his new role as executive chairman, Eknoian will provide strategic counsel, support M&A and remain actively engaged with World's team and culture.

"When I founded World in 2011, I set out to build the kind of brokerage I would have wanted to work for – one that puts clients first, treats its people as partners and grows with discipline and integrity," said Rich Eknoian, executive chairman. "I'm proud of what this team has built together, and I have great confidence in John's ability to lead World into this next chapter. He understands the brokerage model at its core, he knows how to scale a complex organization and he shares the values that have made World who we are today. I look forward to stepping back from the day-to-day while staying actively involved as executive chairman, and I am excited about everything we will accomplish together."

"World's pace of growth and track record of innovation have been exceptional, and the opportunity ahead is even greater," said John Newell, chief executive officer. "Rich has built something rare – a firm with true national scale that still delivers a highly personalized client experience. Our focus now is to accelerate organic growth, deepen industry expertise and deploy technology to better equip our colleagues to deliver more for clients and enhance the experience with our carrier partners. I'm energized to join forces with Rich and the entire World team to take this business to its next phase of growth."

Existing partners Charlesbank Capital Partners and Goldman Sachs Asset Management will both continue to support World's strategic initiatives, including organic growth and acquisitions.

"John is a worthy successor as World's new CEO and has spent his career leading and growing client-centric brokerage businesses. His impressive experience is perfectly aligned with World's roadmap for the future," said Anthony Arnold, partner at Goldman Sachs Asset Management. "Rich is one of the most accomplished founders in insurance distribution; he built World into an industry-leading platform with large-scale products and solutions while maintaining a culture and client-first focus that most firms only talk about. With John at the helm and Rich's continued involvement as executive chairman, we believe World is exceptionally well positioned to capitalize on the exciting market opportunities ahead," said David Katz, managing director at Charlesbank.

About World Insurance Associates

World Insurance Associates (World) is a nationally ranked financial services organization headquartered in Iselin, N.J., that serves its clients from more than 230 offices across the U.S. and U.K. World's comprehensive network of brokers and specialists empower people to make informed decisions to improve their risk management outcomes, modernize their benefits programs, and help achieve their long-term financial goals. Using data-driven analytics, World's advisors innovate new products and solutions tailored to clients' needs across commercial and personal insurance and bonds, employee and executive benefits, wealth management and retirement plan services, private client services, and payroll & HR solutions. For more information, please visit www.worldinsurance.com.

About Charlesbank Capital Partners

Founded in 1998, Charlesbank Capital Partners is a leading middle-market private investment firm with approximately $21 billion of assets under management as of 12/31/25. Drawing on nearly three decades of experience and sector insights, the firm takes a thematic approach to investing across its target sectors: business and consumer services, healthcare, industrials, and technology & technology infrastructure. Charlesbank partners with talented management teams to help businesses unlock value and accelerate growth, with a focus on long-term value creation. The firm provides flexible capital through its complementary private equity and credit strategies, which collaborate closely to harness the firm's collective insights, resources, and network. Charlesbank has offices in Boston and New York. For more information, visit charlesbank.com.

About Private Equity at Goldman Sachs Alternatives

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $625 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, venture capital, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.

The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.

The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. Goldman Sachs has approximately $3.7 trillion in assets under supervision globally as of March 31, 2026.

Established in 1986, Private Equity at Goldman Sachs Alternatives has invested over $75 billion since inception. The business combines a global network of relationships, unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across its portfolios.

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SOURCE WORLD INSURANCE ASSOCIATES LLC