Rose & Kiernan was established in Albany in 1869 by Rufus Rose. Upon his retirement, he was succeeded by his son, William. Then, in 1901, Peter D. Kiernan entered the agency as a partner and the agency became Rose & Kiernan.
The firm was incorporated in 1914, and for the next 60 years was managed by Mr. Kiernan and his son, Peter D. Kiernan, Jr.
In 1974, Peter Kiernan, Jr. left the agency to assume the presidency of an Albany-based bank holding company.The move necessitated his divesting himself of his interest in the business, which resulted in the sale of the agency to the employees on May 8, 1974.
Luke J. Henry, a long-time employee, was elected the agency's new president, and in October of 1974, the management officially changed hands, and Rose & Kiernan, Inc. became completely owned and operated by its employees.
In 1987, building on the success of its employee ownership, the company formed the Rose & Kiernan, Inc. Employee Stock Ownership Plan (ESOP), a decision designed to perpetuate the foundation of the agency by creating an employee-only market for its stock.
Much of the success and growth of the agency today can be assigned to the sense of empowerment R&K employees feel as participants in the ESOP. Their ownership has come to serve as powerful motivation to serve clients with ever-greater quality and responsive service. The ESOP engenders loyalty, commitment and dedication of our employees to our clients in a way that no other employee benefit program ever could.