Aon has named Kai-Frank Buechter and Tracy-Lee Kus as co-chief executives of EMEA from June 1, with Pedro Penalva taking the Latin America role from July 1, in one of the largest leadership reshuffles at the global insurance broker in recent years.
Buechter will oversee Continental Europe and North Africa, while Kus will lead the UK, Ireland, South Africa and the Middle East, the firm said. Both will report to Greg Case, president and CEO of Aon, and join the executive committee, alongside Penalva.
"As we continue to accelerate our Aon United strategy to serve clients with distinction at a time of rising need, we are excited to announce new regional responsibilities for Kai-Frank, Tracy-Lee and Pedro to help advance how we deliver for clients in and across our regions," Case said.
Alfonso Gallego de Chaves has been named deputy CEO of EMEA from June 1, while Andrea Parisi will become chair of Continental Europe from January 1, 2027.
Both will report to Buechter. Aon's North America and APAC operations remain under Anne Corona and Jennifer Richards.
The regional reshuffle comes as Aon enters the third and final year of its 3x3 Plan, unveiled in October 2023 and built around three pillars – risk capital, human capital, and accelerating business services – alongside a roughly $900 million restructuring charge.
The accompanying programme is on track to deliver about $350 million in annualised savings by year-end, with Aon reaffirming guidance of mid-single-digit or greater organic revenue growth for 2026.
Buechter joins the EMEA role after more than 26 years at Aon, most recently as CEO of the DACH region covering Germany, Austria and Switzerland. He has previously served as CEO of Aon Risk Solutions Germany and as chairman of the management board of Aon Holdings Deutschland GmbH.
"Clients across EMEA face rising volatility and complexity," Buechter said, adding that he looked forward to partnering with Kus to build momentum in delivering Risk Capital and Human Capital capabilities to insurance clients.
Kus brings more than three decades of underwriting and broking experience across South Africa, the UK and Asia. She most recently led Aon's Global Broking Center and will remain in that role until a successor is identified.
She also chairs the London and International Insurance Brokers' Association (LIIBA).
Earlier in her career, Kus served as head of commercial risk for APAC, head of North Asia, and led Aon's Financial and Professional Services business in the UK.
"It is a privilege to lead Aon's presence in EMEA with Kai-Frank," Kus said, pointing to her focus on advancing the work of the region's teams.
Penalva, who has spent more than 15 years at Aon, most recently headed Enterprise Clients for EMEA, serving more than 150 enterprise clients across 10 countries. He has also held the roles of CEO of Iberia, Africa and Israel, and CEO of Aon Portugal, and will stay in his current role until a successor is named.
Penalva said it was an honour to lead Latin America, citing Aon's integrated capabilities at "a moment when our clients are navigating unprecedented complexity and volatility."
Outgoing EMEA CEO Julie Page and Latin America CEO Alejandro Galizia will serve as regional chairs through 2026 before moving into senior advisory roles in 2027, the insurance firm said. Jane Kielty will help with the leadership handover in the UK, Ireland and South Africa.
