Citing "different opinions" on a long-term vision, Tampa Bay insurance brokerage Baldwin Connelly is splitting into new firms with separate ownership effective Dec. 31, the firm said Friday.
One of the new companies, led by John Connelly, will include the Baldwin Connelly Family of Cos.' firms of Carlisle Fields and Nichols Insurance, working in partnership with USAmeriBank. Its headquarters will be in Clearwater with an office in Brandon.
The other company, led by Lowry Baldwin, will operate as a regional boutique insurance and risk management firm. Its headquarters will be in Tampa with offices in Naples, Atlanta and Charlotte, N.C.
In a statement, the company described the breakup as "an amicable one … accommodating two different entrepreneurial visions." It said no staff reductions are planned.
Each firm plans to announce a new company name next month.