Bank of the West in San Francisco has sold its insurance subsidiary to an insurance brokerage.
Hub International in Chicago acquired BW Insurance Agency on Aug. 3 from the $71 billion-asset Bank of the West, a unit of France's BNP Paribas. Financial terms were not disclosed.
BWIA's chief administrative officer Wayne Dauwen will become chief operating officer for Hub, based in Fargo, N.D. The agency's finance manager Bruce Gaughan and other regional sales and operations leaders will also join Hub.
BWIA, an independent insurance agency that operated in eight states, was a multiline property and casualty, personal and employee benefits brokerage. Its focus included agriculture, real estate, energy, transportation and construction.