Grahame Millwater has been named chief operating officer at Willis Group Holdings Limited insurance brokerage, the company said in announcing a number of management changes.
London-based Willis said Mr. Millwater, who continues as chairman of Willis Re, has been with the firm for 21 years. Willis said he has been instrumental in developing strategies to improve revenue growth and increase operational efficiencies.
Willis also announced that Tom Colraine, vice chairman and co-chief operating officer, who has been with the firm for 18 years, will retire. He will be replaced by Richard Bucknall, who will be chief executive officer of the Willis Limited unit. He will focus on the company's marketing efforts around the world.
Pat Regan, who joined Willis as chief financial officer in November 2005, will be taking on expanded responsibilities with Mr. Colraine's departure, the firm said. He will oversee the real estate unit and take up oversight of mergers and acquisitions.
Reporting directly to CEO and Chairman Joseph Plumeri, Mr. Regan will also manage risk management and investor relations.
“The changes we are announcing today are part of the natural evolution of the company,” Mr. Plumeri said in a statement.
“We have put ourselves on strong financial footing and have made great progress in building our sales culture and unifying our terrific people around the world into a cohesive, unified team. Today, we are building on our strong foundation, focused on our future and committed to executing the plans we have in place to continue our growth.”
The company also announced that William J. McCarthy has joined Willis as managing partner of its Michigan operations. He was previously with Aon.
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