(Bloomberg) -- John Tuttle, the New York Stock Exchange veteran who helped land some of its marquee initial public offerings, is leaving after nearly two decades to join a fintech firm.
Tuttle will become president of Acrisure, a large, closely held insurance brokerage that’s been eyeing an IPO itself. He starts in September after 17 years at NYSE in various roles including a prominent leader for initial public offerings, the companies said in a statement Wednesday.
During his time at the New York Stock Exchange, Tuttle helped guide companies through their IPOs and follow-ons, managing relationships with 2,400 issuers including Palantir Technologies Inc. and Snowflake Inc., which both listed on NYSE. Most recently, Tuttle created and served as president of the NYSE Institute, the exchange’s platform bridging public policy and global commerce. He also served as chief operating officer and chief commercial officer.
“John’s command of the capital markets, and his deeply rooted relationships throughout the financial services industry, position him as an ideal candidate to join Acrisure at a pivotal moment,” Acrisure Chief Executive Officer Greg Williams said in the statement.
Founded in 2005, Acrisure was the the seventh-largest insurance broker by revenue in 2023, according to trade publication Business Insurance. Brokers, which act as intermediaries between businesses and insurance providers, have benefited from inflation in recent years because higher asset values translate into higher fees. Acrisure has almost $5 billion in revenue, according to the statement.
The company, which raised funding at a $23 billion valuation in 2022, is an IPO candidate itself and interviewed bankers last year to go public, Bloomberg News reported at the time. The Pittsburgh Steelers named their football stadium after Acrisure in 2022.
“I am thrilled to join Acrisure, a company that embodies growth, ambition, and a relentless pursuit of excellence,” Tuttle said.
Before NYSE, Tuttle served in the George W. Bush administration at the US Department of State. NYSE is a subsidiary of Intercontinental Exchange Inc.
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