Bearence Management Group co-founder Dave Schwartz will leave the firm by the end of the year to pursue other opportunities, the West Des Moines-based insurance and financial services company announced Tuesday.

Schwartz began the firm with Joe Teeling in 2005 after a long career with the Marsh & McLennan Cos. Inc. Dan Seemuth, who currently serves as senior vice president in the firm’s Greater Des Moines operations, is now chief operating officer and has been named to the board of directors.

Jim Peters, formerly of Two Rivers Insurance, has joined the firm as a senior risk consultant to open an office in the Quad Cities area.

Bearence has grown to more than 100 employees with more than 2,500 business clients in the past eight years and has opened offices in Kansas City and Minneapolis.