Steadfast’s US broker network has made a leadership change, promoting Doug Penley to president. 

He takes over from Steve Pearson, who becomes ISU Steadfast president emeritus, continuing to contribute to the business on a part-time basis.

“This leadership transition is part of our long-term strategy to strengthen ISU Steadfast’s position as the premier agency network in the US,” network CEO Dan McCarthy said.

“Doug has earned the trust of our team, our members and our carrier partners. His depth of experience combined with a collaborative leadership style make him the right person to lead ISU Steadfast into its next chapter.”

Mr Penley has more than 25 years’ experience in the insurance industry, spanning carrier and intermediary leadership roles. Most recently, he was EVP of strategic insurance partnerships at ISU Steadfast.

Australian broking group Steadfast bought ISU Group in October 2023. TJ Ryan III, who led the business for more than 35 years, has remained involved as vice chairman.