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CHICAGO--In a major restructuring, Aon Corp. said Tuesday it has formed a new business unit consolidating all of its global capabilities within a single, unified service platform and has named two brokerage veterans to run it.
The Chicago-based unit, to be called Aon Global, consists of the brokerage's former Global Large Corporate business unit, Captives Services Group, International Risk Management Group, the Risk Consulting and Risk Engineering business units among others, the Chicago-based brokerage said.
Dennis Mahoney, chairman and chief executive of Aon Ltd. in London, will assume the role of chairman of Aon Global and relocate to Bermuda, Aon said.
Steve McGill, chief executive officer of Aon Risk Services Americas, will assume the additional post of CEO of the new unit and remain in Chicago.
Under the joint leadership of Messrs. Mahoney and McGill, "Aon will formalize a worldwide placement organization that will drive product innovation, coordinate carrier and market relationships, further share best practices across Aon and develop enhanced broking protocols," Aon said in a statement.
The creation of Aon Global has "dramatically strengthened our capabilities" in serving large global corporate clients, said Greg Case, Aon's president and CEO. The new unit will drive solutions for large clients in the major markets of the United States, Bermuda and London, he said.
Peter Harmer, who has led Aon's Australia/New Zealand operations for the past seven years, will succeed Mr. Mahoney as CEO of Aon Ltd. Mr. Mahoney will continue to serve as chairman to ensure a successful leadership transition and will then be succeeded by Mr. McGill, who will serve as nonexecutive chairman of Aon Ltd.
Additionally, Jonathan Palmer-Brown, chairman of Aon's Specialty Global Industries unit, has been appointed deputy chairman of Aon Ltd.