NU Online News Service, Feb. 9, 12:05 p.m. EST

London-headquartered insurance broker Willis Group Holdings announced a series of management changes in its reinsurance, wholesale and placement divisions.

Willis Global, which was formed in 2010, now encompasses Willis Re, Global Specialties, Global Markets, Faber & Dumas, Willis Capital Markets & Advisory, Willis Global Placement, Willis Facultative, Global Solutions and Willis Analytics. The unit is led by Group President Grahame Millwater, who added chairman and chief executive officer of Willis Global to his responsibilities.

To tighten coordination between organizations, Willis Global announced the following leadership changes that are effective immediately:

  • At Willis Re, Peter Hearn will become chairman. Management of Willis Re will be augmented by the appointment of Steve Hearn as CEO. Steve Hearn was previously responsible for Faber & Dumas, Global Markets International and Willis Facultative.
  • Dominic Samengo-Turner will replace Steve Hearn as CEO of Willis' London Market Wholesale businesses. Mr. Samengo-Turner was CEO of Global Placement, an entity formed in 2009 to oversee the group's relationships with insurance carriers and its placement capabilities globally.
  • Alastair Swift will assume Mr. Samengo-Turner's position as CEO of Willis Global Placement. Mr. Swift joined the group with the HRH acquisition in 2008.

In a statement, Mr. Millwater said: "The synergies that exist within the Willis Global organization and our integrated model make this next stage of the evolution not only natural but easy. The businesses in Willis Global offer an awesome array of skills, capabilities and knowledge that our clients, our retail distribution and our third-party intermediary partners find increasingly exciting, valuable and unique."

Joe Plumeri, chairman and CEO of Willis Group, said: "We formed Willis Global to strengthen our Global businesses, together with our enormous pool of intellectual capital and our industry knowledge. These appointments build on this. The combination of Willis Global and our retail capabilities and distribution, together with the One Flag culture we have developed in Willis, differentiates us in the insurance and reinsurance broking industry. We believe we are now very well positioned to take Willis to the next level of our growth offensive."

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