JC Flowers & Co. LLC, a private investment firm dedicated to investing globally in the financial services industry, appoints Tim Hanford and Eric Rahe as co-presidents of the firm. Previously, Tim Hanford and Eric Rahe served as managing directors at JC Flowers & Co. The new appointments will take effect immediately.

Mr. Hanford has been with the firm since 2009, where he currently serves as the head of European operations, leading investments in many businesses including OneSavings Bank, interactive investor and Inigo.

Mr. Rahe joined the firm in 2014, leading several investments including Amerilife, Vericity and Ariel Re.

“Both Tim and Eric have been major contributors to the Firm’s success, and I look forward to continuing to work closely with them in the future,” said Chris Flowers, CEO and chairman of JC Flowers & Co. “Both Eric and Tim have strong business acumen and keen strategic vision, and it’s gratifying to promote from within the Firm.”