Liberty Global Transaction Solutions (GTS), a division of Liberty Mutual Insurance, has announced the appointment of Harry Ballan (pictured above) as the head of tax for the Americas.
In his new role, Ballan will oversee the underwriting of insurance solutions that cover tax risks for businesses operating in the Americas.
Prior to joining Liberty GTS, Ballan served as the managing director for Alliant Insurance Services, where he specialized in structuring insurance solutions for tax, M&A, and contingent litigation risks for businesses worldwide. Before that, Ballan held various senior positions at Davis Polk & Wardwell LLP, including partner and senior counsel. Additionally, Ballan is an adjunct professor of law at New York University Law School and has served as dean of Touro Law School.
“We see new opportunities in this changing economic landscape. Many companies will look to reorganize themselves, which may lead to uncertainty around tax treatment. Or they might simply seek to optimize their balance sheets to release or reduce tax exposures,” said Rowan Bamford, president of Liberty GTS. “Here tax insurance products that can crystallize the cost of an expected tax liability are highly attractive. We are in a prime position to expand our tax offering in this area as interest in this product grows; Harry’s unparalleled experience in mergers and acquisitions, tax controversy and litigation will drive the business at a strategic level.”
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“This is an ever-evolving sector of the market and Harry’s appointment will allow us to strengthen and build out our tax liability insurance practice across the region,” said Scott Pegram, head of Americas at Liberty GTS. “Harry has unmatched technical knowledge and contacts in this space. He has an ideal skillset to identify new areas of insurable risks which will help our clients solve problems they haven’t thought of and enable them to increase their profitability and liquidity.”
Liberty Mutual recently announced a $2.5 billion deal to sell its largest business outside of the US to Generali Group. The company also recently announced the appointment of Patrick Thielen as global head of cyber.
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