Guy Carpenter in shake-up ahead of merge with JLT Re

Guy Carpenter in shake-up ahead of merge with JLT Re | Insurance Business

Guy Carpenter in shake-up ahead of merge with JLT Re

Marsh & McLennan Companies (MMC) unit Guy Carpenter (GC) is all geared up for its imminent merge with Jardine Lloyd Thompson Group’s (JLT) reinsurance broking business. 

While MMC’s swoop for the entire JLT enterprise awaits closing, GC has made significant leadership changes to make way for JLT Re, with which it will align and integrate capabilities to form one combined entity aimed at delivering a “powerful” proposition. A new division has been created as part of the shake-up.

Led by GC vice chairman David Priebe, the new Global Capital Solutions Group will consist of Global Capital Solutions and GC Securities. The latter will continue to be headed by GC Securities president Shiv Kumar while the Global Capital Solutions practice will be under the leadership of Ed Hochberg, the current North America chief executive of JLT Re.

Meanwhile the senior appointments include that of Keith Harrison, CEO of UK & Europe at JLT Re. Upon completion of the MMC-JLT deal, Harrison will lead the London division of GC’s North America business in his new capacity as head of London North America.

Part of Harrison’s remit is being in charge of setting up a new London-based operation to service and source business non-affiliated with GC. He will become part of GC’s executive committee, supporting the overall integration of JLT Re’s UK and European businesses.

Simon Keeley, the current head of London North America for GC, will be reporting to Harrison. Also reporting to Harrison is Mark Higgins, the head of London North America for JLT Re.

In Asia, change will come in the form of JLT Re Asia Pacific CEO Jeremy Fox becoming chairman of GC Asia Pacific.

As for GC Global Specialties, its chief executive Kevin Fisher will chair GC UK & Specialties. Replacing him as CEO is his deputy James Boyce, who also serves as head of Non-Marine Specialties. Taking over the latter post is GC Global Specialties managing director Richard Morgan. The appointments of all three are effective immediately.

JLT Re’s deputy CEO of UK & Europe Bradley Maltese, meanwhile, will assume vice chairmanship of Global Specialties. David Flandro, global head of analytics at JLT Re, will become GC’s global head of economics and franchise risk advisory.

“The combination of Guy Carpenter and JLT Re’s capabilities and expertise will create an exciting opportunity to deliver enhanced value to clients across the globe through a structure that is intuitive and aligned with our strategic priorities,” said GC president and CEO Peter Hearn.

“These roles will be filled by experienced and talented leaders who will have a positive impact on our business. I congratulate them and look forward to working with them in their important new roles.”