NU Online News Service, Aug. 25, 3:19 p.m. EDT
Insurance brokerage Willis Group said Vic Krauze has been named president of Willis HRH, its North American retail business, and will continue as Willis HRH chief operating officer.
The firm said Mr. Krauze reports to Willis HRH Chairman and Chief Executive Officer Don Bailey.
Mr. Krauze, the brokerage said, will be responsible for the day-to-day operations of the business and establishing more consistent business-wide processes and systems for managing growth at the regional level. The National Partners who head each of Willis HRH's seven regions will now report to Mr. Krauze.
Named COO of the North America business in February 2008, Mr. Krauze has led in overseeing the integration of Willis HRH following the company's acquisition of broker Hilb Rogal & Hobbs in October 2008, his company said.
Willis said the integration process – which includes combining offices, business processes and systems – is ahead of plan, and is delivering synergy savings in excess of targets.
Mr. Bailey said that Mr. Krauze "has a long track record of success at Willis as a producer, office leader, National Partner and COO of Willis HRH, in which he has led a very successful integration for us."
Mr. Krauze joined Willis in January 1997 as a producer and was promoted to president and CEO of the company's Minnesota operations. In July 2003, he was named National Partner of the Great Lakes Region, which became part of the company's larger Central Region in 2006 under Krauze's leadership.
Mr. Krauze began his insurance career in 1989 with Marsh as a marketing specialist and later was responsible for production for both risk management and middle-market clients.
"I am excited about the great opportunities we have at Willis HRH to serve our clients with a unique combination of global resources and expertise and an unmatched local presence that allows us to deliver those capabilities right where our clients do business," said Mr. Krauze.
Willis HRH is the North American retail brokerage business of Willis Group Holdings. The unit has more than 200 local offices across the United States and Canada. Willis Group Holdings Limited is a global insurance brokerage.
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