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Jardine Lloyd Thompson Group PLC reinsurance executive, Ross Howard, will become vice chairman of Guy Carpenter & Co. LLC, the Marsh & McLennan Cos. Inc. unit announced Tuesday.
Currently, London-based Mr. Howard is chairman of JLT Re. His new role will become effective on the closing of Marsh & McLennan’s purchase of JLT, Guy Carpenter said in a statement. Marsh & McLennan announced the $5.7 billion purchase of JLT in September.
Mr. Howard will report to New York-based Peter Hearn, president and CEO of Guy Carpenter. Mr. Howard will have a global remit along with current vice chairman David Priebe, who is based in New York, a Guy Carpenter spokeswoman said.
Mr. Howard “will play a pivotal role in the success of the combined organization, driving growth and global collaboration,” Mr. Hearn said in the statement.
Mr. Howard joined JLT in 2013 when the brokerage bought rival Towers Watson Re from Towers Watson & Co.
Guy Carpenter declined to comment on whether JLT Re CEO Mike Reynolds will be joining the firm. Sources say he has stepped down as CEO of the company and will not be joining Guy Carpenter.
Meanwhile, Aon PLC announced Tuesday that former Guy Carpenter executive Richard Jones will join the brokerage next year as executive chairman of Aon Reinsurance Solutions’ Asia business.
Based in Singapore, Mr. Jones will join Aon in May 2019 and report to George Attard, CEO Asia of the reinsurance business.
Mr. Jones spent the past 31 years at Guy Carpenter and has been based in Asia for 17 years, an Aon statement said.
London-based Jardine Lloyd Thompson Group P.L.C. will acquire the reinsurance brokerage business of Towers Watson & Co. for a cash consideration of $250 million, the companies said Friday.