October 31, 2016 by Canadian Underwriter
Dominic Casserley, president and deputy chief executive officer of Willis Towers Watson plc, will be leaving the firm when his employment agreement ends Dec. 31, the London-based firm announced recently.
The US$18-billion merger of Willis Group Holdings plc and Towers Watson & Co. was completed in January, 2016.
The combined firm’s CEO, Tom Haley, had been president and CEO of Towers Watson since 1999.
Casserley joined the Willis Group in January 2013 as CEO. Before that, he worked for 29 29 years at McKinsey & Company.
Also departing Willis Towers Watson is Tim Wright, who will be replaced as head of corporate risk and broking by Todd Jones, the firm announced Oct. 27. Jones had been co-head of North America.
Joe Gunn is now Willis Towers Watson’s head of North America. He was previously northeast region lead of North America.
“Since forming Willis Towers Watson ten months ago, we have made tremendous progress,” Haley stated in a release Oct. 27. “Our integration plans are on track and our focus continues to be on improving our ongoing business operations. These appointments and changes reflect what our clients and the market expect of us, as well as what it will take to drive our business forward and deliver strong performance longer term.”
Casserley “has been crucial to the design, negotiation and success of the Willis Towers Watson merger,” Willis Towers Watson chairman Jim McCann stated in a release Oct. 25. “On behalf of both the legacy Willis board and the current Willis Towers Watson board, I want to thank Dominic for his many contributions, which will benefit the company and all its stakeholders for years to come.”
Arlington, Va.-based Towers Watson was formed in 2010 with the merger of two existing firms – Towers, Perrin, Forster & Crosby Inc. and Watson Wyatt Worldwide Inc. Haley had joined Watson Wyatt in 1977.
Before the merger, Towers Watson’s services included actuarial valuation, due diligence support for insurance industry mergers and acquisitions, product development, predictive modeling, claims consulting and catastrophe modeling.
Willis Group’s services in North America includes the construction practice, in which it provides risk management services and places insurance and surety bonds. In Canada, Willis also places cyber, directors’ and officers’ liability, professional liability and environmental liability insurance, among others.
McCann had been non-executive chairman of Willis Group before the merger. Since 1976, he has served as CEO of florist and gift shop firm 1-800-Flowers.Com Inc.