Brokerage nabs rival’s former CEO as global leader
Willis Group Holdings has appointed John Merkovsky as group head of risk services, effective immediately.
Reporting to Steve Hearn, deputy CEO of Willis Group, Merkovsky will seek greater coordination and collaboration across Willis' extensive risk-related capabilities to deliver the company's Analytical Broker proposition to its clients.
He will also look to grow the company's existing team of risk specialists to deliver the full range of Willis' global industry, insurance and risk management expertise in a more coordinated way in the various territories in which Willis operates.
Merkovsky was previously global leader and subsequently CEO for Marsh
's Risk Consulting Practice, roles he held from 2005 until 2012. He was also responsible for Marsh
’s thought leadership activities around emerging risk issues including climate change, pandemic and supply chain. In 2012 Merkovsky founded the Marsh
Office of Innovation. He is also an annual contributor to the World Economic Forum's Global Risk Network Report.
Former Bank of Scotland exec to head up U.K. RSA
Stephen Hester, the former chief executive of bailed-out lender Royal Bank of Scotland, has been appointed CEO of troubled U.K. insurer RSA.
Hester takes up the new role immediately, replacing Simon Lee, who quit in December after accounting irregularities at RSA's Irish arm and weather-related claims forced the group to issue three profit warnings within six weeks.
RSA said its chairman Martin Scicluna – who has held the role on an interim basis since Lee departed following a run of profit warnings and a probe into accounting issues at RSA's Irish arm – will return to his usual role.
Global brokerage snaps up US firm
& McLennan Agency (MMA), a subsidiary of insurance broker Marsh
LLC, has acquired California-based Barney & Barney for an undisclosed sum.
Barney & Barney provides insurance, risk management, and employee benefits solutions to businesses and individuals throughout the US and abroad and has an annual revenue of $100m.
Former council chief on board at IAG
has appointed Doug McKay as a non-executive director to its New Zealand subsidiary boards (IAG
New Zealand Limited and AMI
Insurance Limited), effective 10 February 2014.
Mr McKay is a senior and experienced commercial executive and director. He has held executive and board positions in a range of industries and was most recently the inaugural chief executive of Auckland Council.