Guy Carpenter Forms New Division, Makes Post-JLT Merger Leadership Appointments
Reinsurance broker Guy Carpenter & Co. announced the formation of a new Global Capital Solutions Group as well as a series of leadership appointments that will become effective upon the closing of the acquisition of Jardine Lloyd Thompson Group plc. by Carpenter’s parent, Marsh & McLennan Cos.
The £4.3 billion ($5.5 billion) acquisition of JLT remains subject to the receipt of certain antitrust and financial regulatory approvals.
The new appointments reflect ongoing strategic efforts to align and integrate the capabilities of both Guy Carpenter and JLT Re, said Guy Carpenter in a statement.
Guy Carpenter provided the following details of the leaders of its various business units:
- David Priebe, vice chairman of Guy Carpenter, will lead Global Capital Solutions Group. He will work with GC’s Analytics, Strategic Advisory and broking teams. The group will be made up of two components, Global Capital Solutions and GC Securities, both reporting to Priebe.
- Ed Hochberg, CEO of North America at JLT Re, will become head of the Global Capital Solutions practice, advising clients on capital, reinsurance optimization and risk transfer solutions. Hochberg will also support the overall integration of JLT Re’s North America business with Guy Carpenter.
- Shiv Kumar will continue as president of GC Securities, responsible for the insurance-linked securities and M&A practices.
- Tim Gardner, CEO of Guy Carpenter North America, and John Trace, president of Guy Carpenter US, will continue in their leadership roles.
- Keith Harrison, CEO of UK & Europe at JLT Re, will become head of London North America for GC. In this role he will lead the London division of GC’s North America business, reporting to Tim Gardner. Harrison will also lead the formation of a new London-based operation to service and source business non-affiliated with Guy Carpenter, which will be overseen by Peter Hearn, president and CEO of Guy Carpenter. Harrison will be responsible for new business production, client management, and delivering advisory, growth and placement expertise, as well as access to the London market for North American clients. Harrison will join the Guy Carpenter executive committee, as well as support the overall integration of JLT Re’s UK and European businesses with Guy Carpenter.
- Simon Keeley, currently head of London North America for GC, and Mark Higgins, currently head of London North America for JLT Re, will both report to Harrison and form part of the senior leadership team that will integrate the businesses and position the combined entity for continued growth.
- James Nash will continue as CEO of Guy Carpenter International.
- Jeremy Fox, CEO of JLT Re Asia Pacific, will become chairman of GC Asia Pacific, reporting to Tony Gallagher, CEO of GC Asia Pacific. In this role, Fox will be responsible for servicing multinational clients in the region and producing new business, as well as working with Gallagher on designing and delivering key strategic priorities for the region.
- Kevin Fisher, currently CEO of GC Global Specialties, will become chairman of GC UK & Specialties. Fisher will continue working with the leadership team to deliver enhanced client solutions across the UK and Global Specialties platform.
- James Boyce, currently deputy CEO Global Specialties and head of Non-Marine Specialties at GC, will become CEO of Global Specialties. Boyce will report to Peter Hearn and will join the Guy Carpenter Executive Committee.
- Bradley Maltese, deputy CEO of UK & Europe at JLT Re, will become vice chairman of Global Specialties, reporting to Boyce. In addition, Maltese will work with the senior leadership team to further develop and grow the Global Specialties client offering, and will also play a key role in executing the integration of the JLT Re Specialty practices with Guy Carpenter.
- Richard Morgan, managing director, GC Global Specialties, will become head of Non-Marine Specialties, reporting to Boyce.
The appointments of Fisher, Boyce and Morgan are effective immediately.
- David Flandro, global head of Analytics at JLT Re, will become Global Head of Economics and Franchise Risk Advisory, reporting to Rob Bentley, CEO of GC Global Strategic Advisory. In this role, Flandro will oversee GC’s global thought leadership, business intelligence, ratings advisory and market intelligence units.
- Vicky Carter, vice chair of GC Global Strategic Advisory, will continue in her leadership role.
“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 Carpenter’s president and CEO 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.”
All other Guy Carpenter executive committee members will continue in their current roles.
Source: Guy Carpenter
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