Willis North America has a new CEO, Todd Jones, and its former CEO, Vic Krauze, will retain his position as chairman, says Willis Group Holdings plc.
Jones, 48, joined Willis in 2003 and has served as president of Willis North America since 2010. From 2007 to 2010, he served as national partner for the Northeast. Before joining Willis he held various leadership roles in the insurance-brokerage industry. Before entering the brokerage industry, he was a financial analyst and corporate banker for First Union National Bank, focusing on the telecommunications and healthcare industries.
Jones will report to Willis Group CEO Dominic Casserley. A spokesperson says Willis has dropped the position of “president, Willis North America” and there will be no replacement.
Krauze, 53, was named Chairman and CEO of Willis North America in 2010 after the departure of Don Bailey. In a filing with the Securities and Exchange Commission, Krauze, will receive annual base salary of $700,000 and discretionary bonus.
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