Ursano Named CEO Of Willis Capital Markets

Tony Ursano has been named chief executive officer of Willis Capital Markets and Advisory Services, the London-based insurance brokerage Willis Group Holdings announced today.

Willis said Mr. Ursano will lead a new division that expands on the broker's already existing capital markets capability and will focus on advising insurance and reinsurance companies and clients on a broader array of capital markets products and mergers and acquisitions.

Mr. Ursano was previously with Banc of America Securities where Willis said he built and managed the financial institutions corporate and investment banking business for nine years before being named a vice chairman in 2008.

Prior to his stint at Banc of America, Mr. Ursano was at Merrill Lynch, SG Warburg & Company, and Donaldson, Lufkin & Jenrette. Willis said he has 22 years of investment banking experience with a specific focus on the insurance industry.

Mr. Ursano has been a strategic advisor over the years on more than 50 insurance industry merger and acquisition transactions as well as numerous equity and debt capital raisings for many of the industry's highest profile companies. Most recently he was a key advisor to Willis on the $2.1 billion acquisition of Hilb Rogal & Hobbs.

"This is an opportune time to expand our capital markets capability," said Joseph J. Plumeri, chairman and CEO of Willis Group Holdings. "Insurance is just another form of capital, and in today's volatile economic environment when traditional financial institutions, such as banks, are struggling and have limited capital, we can fill the void by offering high-quality, objective advice which includes a range of solutions."

Mr. Ursano will report to Patrick Regan, Willis' chief operating officer and chief financial officer. His appointment becomes effective April 10.