George E. Norcross III will take a leave of absence from his position as executive chairman of Conner Strong & Buckelew, one of the twenty largest insurance brokerage firms in the nation, as he fights allegations related to development rights along the Camden waterfront, according to an email sent to the firm’s clients and obtained by the New Jersey Globe.
“Mr. Norcross has publicly denied any wrongdoing and has taken a formal leave of absence from the company as he focuses on vigorously defending himself,” the email stated. “The allegations against Mr. Norcross, and his leave of absence, do not affect our business or current operations.
The email notes that “Conner Strong & Buckelew has not been charged or accused of any wrongdoing, and the charges are completely unrelated to the company’s insurance brokerage operations.”
“Specifically, the charges do not implicate, in any way, the company’s business, placement of insurance, market research or risk analysis, or the expert advice provided by the company,” the internal statement stated. “We have an incredibly strong business and a deep bench with a proven track record.”
Norcross, one of New Jersey’s most powerful political insiders for the last 35 years, founded the firm from a basement office in Camden in 1979.
Michael Tiagwad, the firm’s president and CEO for nearly two decades, will assume Norcross’ duties.
“Conner Strong & Buckelew has a strong culture of compliance and is proud of our history operating as a best-in-class platform, committed to the highest ethical standards,” the message to clients stated.
Attorney General Matt Platkin unsealed a 13-count racketeering indictment against Norcross and others claiming that they used threats and intimidation to secure property owned by another developer to build the Triad1828 Building, and then profit off tax incentives obtained from the New Jersey Economic Development Authority. Norcross maintains that all details of the deal have been reviewed and approved by multiple regulatory authorities. |
Still, there is no sign that Norcross will step aside from his role in New Jersey politics, which hasn’t involved a formal position in several years.
The company email touts the work it has done, “including the revitalization of Camden.”
“Today, Camden is a demonstrably stronger place than it was just a decade ago – it is safer, with better schools more jobs, and an unprecedented future development, including the more than $3 billion expansion of Cooper University Health Care, D Anderson Cancer Center at Cooper, and the Cooper Medical School,” the email states. “We remain steadfast to continue our work.”