Ryan Specialty (NYSE: RYAN) appoints Keogh, Mulshine as Co-Presidents

Rhea-AI Filing Summary

Ryan Specialty Holdings, Inc. announced leadership changes in its top executive team. Effective October 9, 2025, the board appointed Stephen P. Keogh as Co-President and Chief Operating Officer and Brendan M. Mulshine as Co-President and Chief Revenue Officer, succeeding Jeremiah Bickham as President.

Keogh, age 59, has been the Company’s Chief Operating Officer since May 2025 and previously held senior leadership roles at Aon plc over more than three decades. Mulshine, also 59, has served as Executive Vice President and Chief Revenue Officer since 2020 after earlier leadership roles at the Company and at Aon Re. The Company states that any changes to their compensation have not yet been determined.

Bickham and the Company agreed that he will transition from his role as President effective October 8, 2025 and serve as a non-employee strategic advisor through January 1, 2026. The filing notes relevant family relationships for Mulshine with the Company’s Founder and a board member and confirms there are no related-party transactions requiring disclosure under Item 404(a) of Regulation S-K.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

____________________

FORM 8-K

____________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 2, 2025

____________________

RYAN SPECIALTY HOLDINGS, INC.

(Exact name of Registrant as Specified in Its Charter)

____________________

Delaware		001-40645		86-2526344
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)
155 North Wacker Drive, Suite 4000
Chicago, Illinois				60606
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: 312 784-6001

(Former Name or Former Address, if Changed Since Last Report)

____________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the

registrant under any of the following provisions:

o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A Common Stock, $0.001 par value		RYAN		The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act

of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition

period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the

Exchange Act. o

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;

Compensatory Arrangements of Certain Officers.

Appointment of Co-Presidents

On October 8, 2025, the Board of Directors of Ryan Specialty Holdings, Inc. (the “Company” or “Ryan Specialty”)

appointed Stephen P. Keogh as Co-President and Chief Operating Officer and Brendan M. Mulshine as Co-President and

Chief Revenue Officer of the Company to succeed Jeremiah Bickham as President, effective October 9, 2025.

Stephen P. Keogh, age 59, has served as the Company’s Chief Operating Officer since May 2025. Previously, Mr. Keogh

was the Senior Advisor to the Office of President, Aon plc, a position he held from October 2021 until his retirement in

September 2022. Prior to that, commencing June 2019, Mr. Keogh was President of Aon plc’s Commercial Risk Solutions,

the global risk management business of Aon. Mr. Keogh holds in excess of thirty-two years of experience at Aon, where he

held positions in operations, finance and accounting, technology, human resources and executive management. Mr. Keogh

earned a Bachelor’s degree from the University of Illinois.

Brendan M. Mulshine, age 59, has served as the Company’s Executive Vice President and Chief Revenue Officer since

2020 and previously served as the Company’s Executive Vice President and Managing Director from 2012 through 2020.

From 1995 to 2012, Mr. Mulshine held various leadership positions at Aon Re, working with domestic and global

insurance company clients on their reinsurance capital needs. Mr. Mulshine began his career practicing law in New York

City. He earned a Bachelor of Arts from Yale College, a Juris Doctor from the University of Notre Dame School of Law,

and a Master of Business Administration from Northwestern University’s Kellogg School of Management.

Changes to Messrs. Keogh’s and Mulshine’s compensation, if any, have not been determined at this time.

There are no arrangements or understandings between any of Messrs. Keogh and Mulshine and any other person pursuant

to which each such person was appointed as a Co-President of the Company. There are no family relationships between

Mr. Keogh and any director or executive officer of the Company. Mr. Mulshine’s spouse is the niece of Patrick G. Ryan,

the Company’s Founder and Executive Chairman, and a cousin of Patrick G. Ryan Jr., a member of the Board of Directors.

Neither Mr. Keogh nor Mr. Mulshine have direct or indirect interest in any transaction or proposed transaction required to

be disclosed pursuant to Item 404(a) of Regulation S-K.

Departure of President

On October 2, 2025, the Company and Mr. Jeremiah Bickham agreed that, effective October 8, 2025, Mr. Bickham would

be transitioning from his role as President to serve as a non-employee strategic advisor to the Company through January 1,

2026.

Item 7.01 Regulation FD Disclosure.

On October 8, 2025, the Company issued a press release announcing the matters set forth under Item 5.02 of this Current

Report on Form 8-K. A copy of the press release is attached as Exhibit 99.1 to this Current Report and incorporated herein

by reference.

As provided in General Instruction B.2 to Form 8-K, the information furnished in this Item 7.01 and in Exhibit 99.1 to this

Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of

1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and such information shall

not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act,

except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits.

The following exhibits are furnished herewith:

Exhibit No.		Description of Exhibit
99.1		Press Release dated October 8, 2025
104		Cover Page Interactive Data File (formatted as inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed

on its behalf by the undersigned hereunto duly authorized.

			RYAN SPECIALTY HOLDINGS, INC. (Registrant)
Date:	October 8, 2025	By:	/s/ Mark S. Katz
			Mark S. Katz Executive Vice President, General Counsel and Corporate Secretary

FAQ

What leadership changes did Ryan Specialty (RYAN) announce in this 8-K?

Ryan Specialty appointed Stephen P. Keogh as Co-President and Chief Operating Officer and Brendan M. Mulshine as Co-President and Chief Revenue Officer, effective October 9, 2025, succeeding Jeremiah Bickham as President.

What is happening to former President Jeremiah Bickham at Ryan Specialty (RYAN)?

Ryan Specialty and Jeremiah Bickham agreed that, effective October 8, 2025, he will transition from his role as President and serve as a non-employee strategic advisor to the Company through January 1, 2026.

What are Stephen P. Keogh’s qualifications for his new role at Ryan Specialty (RYAN)?

Stephen P. Keogh, age 59, has been the Company’s Chief Operating Officer since May 2025 and previously served as Senior Advisor to the Office of President at Aon plc and President of Aon’s Commercial Risk Solutions, bringing over 32 years of experience at Aon.

What experience does Brendan M. Mulshine bring to his Co-President role at Ryan Specialty (RYAN)?

Brendan M. Mulshine, age 59, has been Executive Vice President and Chief Revenue Officer since 2020 and previously served as Executive Vice President and Managing Director from 2012 to 2020, after holding various leadership roles at Aon Re from 1995 to 2012.

Have compensation changes for the new Co-Presidents at Ryan Specialty (RYAN) been set?

The Company states that changes to Mr. Keogh’s and Mr. Mulshine’s compensation, if any, have not been determined at this time.

Are there any disclosed family relationships or related-party transactions for the new Co-Presidents of Ryan Specialty (RYAN)?

The filing notes that Mr. Mulshine’s spouse is the niece of Founder and Executive Chairman Patrick G. Ryan and a cousin of director Patrick G. Ryan Jr.. It further states that neither Mr. Keogh nor Mr. Mulshine has any direct or indirect interest in transactions requiring disclosure under Item 404(a) of Regulation S-K.

Did Ryan Specialty (RYAN) issue a press release about these management changes?

Yes. On October 8, 2025, the Company issued a press release describing these matters. It is furnished as Exhibit 99.1 and is not deemed filed for liability purposes under Section 18 of the Exchange Act.