Joe Plumeri—the man who removed the door from his office to drive home his philosophy of transparency as he returned Willis Group to public ownership—is stepping down as chairman and CEO of the world's third-largest brokerage.
Dominic Casserley will serve as the group CEO starting Jan. 7, 2013. Casserley comes to Willis after 29 years with global management consulting firm McKinsey & Co.
Steve Hearn, currently the chairman and CEO of Willis Global, has been appointed to serve as Deputy CEO of Willis Group.
“I am proud beyond words of our company's achievements seizing on opportunities and confronting challenges spanning a dozen years,” says Plumeri, 69, who joined Willis in October 2000.
“But I'm equally excited about the path ahead for Willis under the leadership of Dominic Casserley and Steve Hearn, and our outstanding team of leaders, and the 17,000 associates around the world,” he adds in a statement. “In the past and in the future, it is our people who provide expertise, uphold our values and put a human face on The Willis Cause for every one of our clients.”
In June, Plumeri was named one of NU's “Living Legends of Insurance.” As CEO, he saw Willis' market cap double over his first eight years. As the world faced a financial crisis in 2008, Willis acquired brokerage-firm Hilb, Rogal & Hobbs in a $2.1 billion deal, firmly establishing its presence in the United States while it expanded in Europe, Asia and Latin America. Last summer Willis opened its 22nd office in China, where it was the first brokerage to get a license to operate.
Casserley, now based in London, will move to Willis' office in New York City after a transition period in 2013.
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