Willis Grabs Big Brokers' Defecting Employees

By Mark E. Ruquet

NU Online News Service, Dec. 2, 4:18 p.m.EST?As the brokerage fee scandal casts shadows over theirlarger competitors, Willis Group is busy picking up theirstaff.[@@]

This week, Willis, headquartered in London, said Marshbrokerage's Arlene Corsetti had joined Willis as executive vicepresident regional executive officer. She will lead the Westernregion, encompassing Alaska, Arizona, California, Hawaii, Nevada,Oregon and Washington. Based out of San Francisco, she will alsoassume the role of Willis Healthcare Practice Leader in NorthAmerica.

According to Willis, Ms. Corsetti joined the firm after 21 yearswith Marsh. Before leaving, she was director and regional manager,overseeing the 17 offices of Marsh's Midwest operations. In 2003,the operations accounted for $550 million in revenue to the firm.She was also a member of the firm's internal board ofdirectors.

In a statement, Willis Chairman and Chief Executive Officer JoePlumeri called Ms. Corsetti's decision to join his company "atestament to our cutting a different path in the insurance brokingbusiness that attracts the best in the industry," he said.

Earlier this month, Brian Morgan, who spent 10 years at Marsh,the last five building the firm's presence in the mid-South, joinedWillis as CEO of its Nashville office.

Another defection to Willis from the major brokerage ranks wasJames Kent, formerly a vice president with Chicago-based broker Aonin their Bermuda office. He has joined Willis as an executive vicepresident in Bermuda with Willis Re, Willis' reinsurance unit.

In October, New York Attorney General Eliot Spitzer announced asuit against Marsh's parent company Marsh & McLennan, based inNew York City, alleging bid-rigging and other abuses in theplacement of insurance contracts in return for profitable volumeplacement contingency commission fees.

The fall-out has lead to the layoff of 3,000 employees atMMC.

Commenting on the hiring, Dan Prince, a spokesman for Willis,said that recruiting has been an important component of the firm'sgrowth since Mr. Plumeri assumed his position as chairman and chiefexecutive officer of the firm in October of 2000.

"In the early days of those [recruitment] efforts, we had to domore of an introduction of Willis," he said. "Over the course oftime, those calls have gone from outgoing to incoming. As more timegoes on, and our [sales] model continues to be validated, the paceof those incoming calls has gotten much, much faster."