Willis Expanding, Reorganizing

NU Online, Sept 4, 12:27 p.m. EST?London-based Willis Group Holdings, the global insurance broker, announced the retirement of a top executive as well as an expansion and reorganization plan yesterday.

The company said Brian Johnson, chief executive officer of its North American retail operations, will retire in early January 2003. His unnamed successor will be in place by year's end and will report directly to Joe Plumeri, chairman and CEO of Willis Group Holdings, the firm announced.

In addition, Willis said it was staging a major drive to add producers and reorganizing its regional offices to accelerate its growth in the key North American market.

Mr. Plumeri congratulated Mr. Johnson on his 36-year career at Willis and its predecessor companies, noting that when he joined Willis two years ago, Willis North America was in the midst of a broad-based improvement program, "the results of which are already clearly evident: accelerating revenues and profits, improving margins, and a motivated team focused on delivering best service to our clients.

"These improvements are directly attributable to Brian's thoughtful, courageous and decisive leadership. He has done a superb job putting the business on a sound footing, and we will now build on his accomplishments to execute the next stage of our aggressive growth strategy in North America".

Willis Group said it anticipates bringing on 100 new producers across North America by year end. In addition, it said it is expanding the number of its regional divisions from 7 to 13.

The company said this reorganization will result in further opportunities for regional executive officers and each REO being able to invest more time and resources driving and reinforcing a client-focused approach, and growing and developing their respective areas.

"We are ambitious and vigorously focused on our vision to be the world's best insurance broker and risk management consultant," said Mr. Plumeri.

The company, he said, is "seeking world-class talent while managing the business to grow critical mass, secure economies of scale, and embed a truly client-driven culture".

Willis Group Holdings said it has over 300 offices worldwide with 13,000 associates and clients in 180 countries. Willis has particular expertise in serving the needs of clients in such major industries as construction, aerospace, marine and energy.

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