Willis Group announces new CEO, deputy CEO

Global insurance broker Willis Group Holdings has announced Dominic Casserley will be its new chief executive officer, effective Jan. 7, 2013, following the 12-year tenure of current company head Joe Plumeri.

Casserley, 54, is currently a senior partner of McKinsey and Company, which he joined in New York in 1983. During his time with that company, Casserley has been based in the United States and Asia and has worked across Europe from London since 2000. He has led the firm’s Greater China Practice and its U.K. and Ireland Practice. In his new role, Casserley will be based in New York.

“A noted expert on global financial services, including insurance companies, and the opportunities of expanding into new markets, Casserley has been a member of McKinsey’s Shareholder Council, the firm’s global board, since 1999 and for four years served as the Chairman of the Finance Committee of that board,” notes a statement from Willis.

He succeeds Joe Plumeri, 69, who has served as the group’s chairman and CEO for the past 12 years. Plumeri will serve as a non-executive chairman through July 2013.

During his time as CEO, Plumeri guided the company through an initial public offering in 2001. He also led the company through its $2.1 billion acquisition of Hilb, Rogal and Hobbs (HRH) in 2008, as well as Willis’ development in the Chinese market.

The company also announced that Steve Hearn, currently the chairman and CEO of Willis Global, will serve as deputy CEO of Willis Group.

Hearn, 46, joined Willis as chairman and CEO of Glencairn Ltd., which became part of the company in 2008 through its HRH acquisition. He was appointed chairman and CEO of Willis Global in January 2012 and will continue in that role along with being deputy CEO.

“I am proud beyond words of our company’s achievements seizing on opportunities and confronting challenges spanning a dozen years,” Plumeri said in a statement.

“But I’m equally excited about the path ahead for Willis under the leadership of Dominic Casserley and Steve Hearn and our outstanding team of leaders and the 17,000 associates around the world. In the past and in the future, it is our people who provide expertise, uphold our values and put a human face on The Willis Cause for every one of our clients.”