Willis Group Holdings, Ltd. said it has named Adam Ciongoli general counsel. He replaces Eric R. Dinallo, who was recently named acting superintendent of the New York State Insurance Department.
Mr. Ciongoli was most recently a law clerk to U.S. Supreme Court Justice Samuel A. Alito Jr.
Willis said his other work history included serving as a special consultant to the New York City Police Department, senior vice president and general counsel for TimeWarner Europe, and counselor to the U.S. Attorney General.
Willis also promoted Mary Caiazzo to the newly created position of chief legal officer of Willis. Ms. Caiazzo, who has been with Willis for 9 years, will oversee the company's legal functions throughout the world.
The London-headquartered insurance brokerage firm also announced it entered into an agreement to purchase approximately 10.2 million shares of its common stock from J.P. Morgan Securities Inc. The initial purchase price is $400 million under an accelerated stock repurchase program. The shares will be retired.
The repurchase is part of Willis' previously announced stock repurchase program.
After this transaction, Willis said it will have $339 million of authorized share repurchases remaining under its existing buyback authorization.
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